The Securities and Exchange Commission said an “unknown party” hacked its official X account to promote bitcoin.
The false post attracted millions of views and caused a brief frenzy among crypto traders.
However, the SEC regained control and clarified the earlier statement was unauthorized.
It is the latest of several cryptocurrency-related hacks.
SEC Chair Gary Gensler later confirmed on X that the agency’s “account was compromised, and an unauthorized tweet was posted.
“The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”
Spokesperson Stephanie Allen said: “The SEC will work with law enforcement and our partners across government to investigate the matter and determine appropriate next steps relating to both the unauthorized access and any related misconduct.”
The hack raised concerns as it temporarily drove a spike in bitcoin prices, potentially allowing those aware of the scam to profit massively.
Notably, the compromised account was not only an official news source but also carried a silver check mark, signifying its verification as a prominent government account.
It remains unclear if such verified accounts have special security arrangements.
However, experts suggest that, at a minimum, the SEC account should have employed some form of two-factor authentication.
This hack follows recent incidents targeting smaller government accounts and accounts with gold checks designated for private organizations.
Security experts speculate that the recurring hijacks may indicate a broader vulnerability or a new hacking technique.
X did not respond to an email from the Washington Post asking for comment.
