Bitcoin Prices Spike After SEC X Account Hack

The US Securities and Exchange Commission's official X (Twitter) account was compromised on Jan. 9 after an unknown individual obtained control of a phone number associated with the account and posted a false message claiming ETF approvals. The post was deleted within 20 minutes but garnered over a million views and briefly moved the price of Bitcoin by about 5%; X indicated the breach was not due to their systems and noted that two-factor authentication was not enabled on the account. The SEC has opened an investigation with law enforcement, highlighting the financial and reputational risks of high-value social-media account takeovers.