X Confirms 'Bitcoin ETF' Breach Was Not Of Any Of Its Systems, SEC Failed To Use 2-Factor Authentication On Phone
Tyler Durden's Photo
BY TYLER DURDEN
WEDNESDAY, JAN 10, 2024 - 06:15 AM
Update (2300ET): And the hits keep coming for the SEC.
With fingers being pointed and blame being apportioned for the SEC screw-up, X's Safety team have provided a rather awkward statement on the results of their probe of the breach.
We can confirm that the account @SECGov was compromised and we have completed a preliminary investigation.
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.
We encourage all users to enable this extra layer of security.
And there it is, just as the mainstream establishment would have loved to blame Elon Musk, or X, it turns out the world's leading securities regulator was incapable of utilizing two-factor authentication on an account that by all standards can be extremely market-moving in its capabilities.
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In a stunning update, just minutes later, Gensler has posted on X that this is false and that his account has been hacked:
One wonders if this was really "compromised' - or was it an intern accidentally hitting 'send' on the post (that we will discover shortly is probably real anyway).
And if it really was hacked, what was the motive? What did the person get out of it?
Be careful though!!!
As a reminder, the SEC has an open window until January 10 in which it could approve multiple applications simultaneously.
The first stage in approval of a spot Bitcoin ETF would be the SEC signing off on 19b-4 filings by the exchanges planning to list the ETFs, all of which were submitted by 6 p.m. ET on Friday.
The SEC would then need to approve the issuers' S-1 applications; with both approved, the ETFs could technically begin trading the next business day.
Ethereum is extending gains since the fake tweet and denial, Bitcoin is lower, but rising off the lows…
SEC Chair Gary Gensler - having issued his pre-emptive warning at just how terrifyingly dangerous cryptos are - proudly proclaimed the approval of Spot Bitcoin ETFs on X:
“Today’s approval enhances market transparency and provides investors with efficient access to digital asset investments within a regulated framework,” SEC Chair Gary Gensler said.
We have inserted an image of the allegedly hacked tweet…
Jane Street Capital, Macquarie Capital, and Virtu Americas have signed on to be authorized participants for Bitwise's Bitcoin ETF.
Grayscale Bitcoin Trust (Grayscale)
Jane Street Capital, Virtu Americas, Macquarie Capital, and ABN AMRO Clearing have all signed authorized participant agreements with Grayscale.
ARK 21Shares Bitcoin ETF (ARK Invest, 21Shares)
Jane Street Capital, Macquarie Capital, and Virtu Americas will be authorized participants for ARK's Bitcoin ETF.
Bitcoin spiked up to $48,000 on the headline… and right back down…
Testing its highest since March 2022…
Interestingly, while BTC is fading, ETH is ramping higher (playing catch up to recent relative weakness) in anticipation of a Spot Ethereum ETF…
Meanwhile, in the Senate…
Finally, this…
https://www.zerohedge.com/crypto/sec-approves-bitcoin-spot-etf