Hoax: No Bitcoin ETF approval (yet)

[highalch]

Whoever did this. I don't wanna go to theories if it's a real hacker or SEC insider or whoever, but managed the smash both the reputation of crypto and the reputation of SEC. But I don't really care about the latter.

Just get that freaking approve

But whatever happens tomorrow. Soon finally I can focus on bitcoin again and forget this shitshow...

[freedomno1]

We have been had we had been bamboozled darn it
Ha-ha just another day in Bitcoin munches popcorn
It wouldn't be Bitcoin without some drama now and then

[tvplus006]

The question is: who hacked the sec account? I mean US SEC, which is supposed to take their security very seriously, and they don't know when their official page was compromised and news was made about it...

The answer may be too simple to be believed. There is an assumption that this was a delayed publication, which was supposed to appear tomorrow, January 10, as previously expected, when the SEC was supposed to announce its decision. But obviously the account admin has confused something with the dates.

[highalch]

The answer may be too simple to be believed.

rationalroot matched the twitter posts on the 1-minute chart, it clearly reads that the dump happened before Gensler announced the "hack"

[South Park]

Whoever did this. I don't wanna go to theories if it's a real hacker or SEC insider or whoever, but managed the smash both the reputation of crypto and the reputation of SEC. But I don't really care about the latter.

Just get that freaking approve

But whatever happens tomorrow. Soon finally I can focus on bitcoin again and forget this shitshow...

Whoever did this earned a fortune and there should be little doubt about it, I mean what can be more authoritative than a tweet from the SEC claiming a bitcoin ETF was approved? At that point whoever did this probably borrowed as much money as they could and used a 100x leverage on their open positions, paying their loans instantly and making themselves rich in the process, I hope this is investigated and we are not left wondering what happened.

[Bitcoin_Arena]

Here is the irony. SEC made this tweet last year. 



They have been singing of how crypto is a scam for years and of how they have been giving the US citizen security against scams and market manipulation, but the so-called SEC can't even secure their own x account.

What does this tell you about the Government? Do not trust and blindly follow whatever they say.

[Darker45]

At least the price of Bitcoin didn't react to another fake news this time around. Before, the price seemed very quick to react to rumors and FUD regarding spot Bitcoin ETF. The timing of the hack was curious, though. Was it done to try testing how the market would react to the official announcement of the SEC regarding the approval of a spot Bitcoin ETF? Whoever did it, he/she better be patient. It will, after all, be released very soon.

[freedomno1]

What does this tell you about the Government? Do not trust and blindly follow whatever they say.

Its a mind game they're playing with the retail investors.

[Samlucky O]

It is very sad that the SEC can't secure there twitter account talk more of securing investors gat me laughing. Just like useing a pumpkin to secure a door.

[adaseb]

Well it doesn’t look good going into tomorrow. We got the final deadline for ark. So it’ll be a rejection or they will just approve it.

If they reject it then most people will think that the rest will be rejected also and there will be a massive sell off. Tomorrow is basically the most important day of the year for bitcoin. They can’t delay the ark any further. Even due to this hack news.

[Kakmakr]

Yea, I see FUD and "clickbait" articles being posted all over the Internet about these Bitcoin ETFs.

You also see a lot more articles with "negative" and "misguided" information being posted by mainstream media that are not supporting Crypto currencies. (The old school fat cats that got rich from Fiat investment options and family money)

[NotATether]

The question is: who hacked the sec account? I mean US SEC, which is supposed to take their security very seriously, and they don't know when their official page was compromised and news was made about it.
 
Then again, upon all the news and details of things that the hacker could have used the account for in the short period of time that they had access to the account, why just post something about ETF approval? What are they trying to do—channel the attack on those who file for bitcoin ETF? Or are the hackers trying to manipulate the market with the news? I have so many questions to ask regarding this incident.

Just because it's called the Securities and Exchange Commission, doesn't mean that they are Security experts you got two different words here.

Governments at large do not really know how to do cybersecurity, because the hackers are faster than not only the researchers, but they are also faster than whatever dinosaurs in the government are making policy - even the FBI can't do much to help here.

[Charles-Tim]

Just because it's called the Securities and Exchange Commission, doesn't mean that they are Security experts you got two different words here.

Governments at large do not really know how to do cybersecurity, because the hackers are faster than not only the researchers, but they are also faster than whatever dinosaurs in the government are making policy - even the FBI can't do much to help here.

I am disappointed with the United States SEC for not using 2FA to secure their X account. I will also blame it on Twitter also because it is one of the social media that people's and organization's account are getting compromised. If something like this is happening, they should let people to be using 2FA compulsorily. But I am highly still disappointed that this could be coming from the SEC.

[Lida93]

fake news
above

gensler just mentioned the announcement tweet was fake

https://twitter.com/GaryGensler/status/1744833049064288387
The @SECGov
 twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

Isn't this weird and manipulative from within the SEC itself and another gimmick pulled to further the delay of the spot bitcoin ETF approval as all expectations has soared that it will be approved anytime this week.

Just Jameson Loop ironically questioned, If the SEC can't guarantee the security of their official X account from compromise what is the investors guarantee of being protected from vicious actors in the market when the ETF eventually received official authentic approval.

I think the SEC needs to conduct a thorough investigation to fish out anyone behind the fake release of the ETF approval news to allay the fears of the public in questioning their guaranteed security, and also the action if taken may likely dissolve the suspicion from the public about the SEC intentionally pulling this show.

[hugeblack]

I was asleep when this drama happened. Did any official media broadcast this news, TV channels or any coverage? Did they apologize after they found out about the news? This is very funny? Today is going to be a long and full of rumors so I decided to mute ETF/SEC and wait until tomorrow to find out the details.

[naira]

What I want to criticize about this incident is the SEC Twitter/X account which was careless in not activating 2fa? It's ridiculous, what's more, this moment can be used as a reference by the SEC that just one piece of news can significantly influence the price of Bitcoin. We personally have temporarily stopped DCA activities, because we are still waiting for clearer confirmation. In my opinion, the current market condition is unhealthy where investor fomo enters by swallowing wrong information. Luckily the market stabilized again above $46K. This surge occurred quite briefly, in the end the bitcoin ETF will definitely be approved this year, but the time cannot be confirmed, because the submission of proposals continues to be postponed, resulting in the saturation phase starting to appear.

[STT]

Its not impossible the 2fa could have been enabled and it was still compromised somehow.   It might be a few different people are able to access that account and you only need to compromise the security of one of those people or computers on a network and you have a route to that account.  A chain is only as strong as its weakest link.
   Any news outlet really should be confirming their sources when reporting news, its not the first time this kind of event has occurred.  The motivation is quite clear when the result of the news can be immediately traded for a profit.   If anything I bet the people who did this will disappointed it was a relatively small move.   Also BTC is doing quite well still when it could have triggered some decline.

[NotATether]

I think the SEC needs to conduct a thorough investigation to fish out anyone behind the fake release of the ETF approval news to allay the fears of the public in questioning their guaranteed security, and also the action if taken may likely dissolve the suspicion from the public about the SEC intentionally pulling this show.

To fish out? They were hacked, you can't fish out a hacker unless you send cyberpolice and FBI to X's San Francisco headquarters to investigate the breach.

The SEC should also look to having "additional protections" on their account, sort how how Trump's account had them which prevented it from getting hacked back in 2020.

[highalch]

To fish out? They were hacked, you can't fish out a hacker unless you send cyberpolice and FBI to X's San Francisco headquarters to investigate the breach.

To be precise, all we know after the X security team's clarification is, that someone managed to access the account due to the lack of 2FA.

It doesn't say, an external hacker or a malicious SEC intern... The possibility is still there. It could've been an inside job with the same 50% chance.

[tvplus006]

Its not impossible the 2fa could have been enabled and it was still compromised somehow.   ...

The administration of X (Twitter) in its post explained the reasons why the SEC account was hacked: "Based on our investigation, the compromise was not due to any breach of X’s systems, but rather due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party. We can also confirm that the account did not have two-factor authentication enabled at the time the account was compromised" - https://twitter.com/safety/status/1744924042681897343