FBI Joins Investigation into SEC X-Account Hack

The U.S. Securities and Exchange Commission (SEC) plans to investigate the hacking of its X social media account in collaboration with the FBI, according to Reuters.

“The SEC continues to investigate this matter and is coordinating its actions with the appropriate law enforcement agencies, including the SEC’s Office of Inspector General and the FBI,” a spokesperson said in an email.

On January 10, hackers gained control of the regulator’s account and posted a fake news story about the approval of a spot Bitcoin ETF, causing significant market volatility.

Access to the profile was restored 15 minutes after the attack. The agency’s security team noted that two-factor authentication had not been set up for the profile.

Meanwhile, SEC Chairman Gary Gensler published a denial on his personal page and announced the start of an investigation.

The incident sparked a strong reaction not only from the crypto community but also from U.S. lawmakers.

“I think we have witnessed the latest technological vulnerabilities of Washington and a truly low bar for the SEC,” said Arkansas Representative French Hill.

He, along with other politicians, intends to send a letter to Gensler demanding clarification of the incident.

Senator Bill Hagerty called the incident with the Commission’s account “unacceptable” and stated that Congress “needs a clear answer.”

Previously, Ripple CEO Brad Garlinghouse suggested the agency investigate “itself.” CSO of Coinbase, Philip Martin, offered the SEC assistance in organizing social media cybersecurity.

Later that evening, following the fake post on X, the regulator did approve all 11 applications for spot Bitcoin ETFs. Trading is scheduled to begin on January 11.