X platform completes SEC investigation: No hack!

Platform X's security team announced that the SEC's account was not hacked and that a third party had taken over the account through a phone number.

The other day, the SEC's post from account X left its mark on the crypto industry. The SEC's official X account shared a post stating that it approved spot Bitcoin ETFs. After this sharing, there was a rise in cryptocurrencies, especially BTC. After 10 minutes, SEC Chairman Gary Gensler announced that the SEC's account had been hacked and that they were not approving ETFs.

After Gensler's post, a major collapse occurred in BTC. The SEC has victimized many investors in the past day. The regulatory body's mistake has brought the crypto sector to its feet.

The security team of platform X, which examined the issue, shared its findings on platform X. According to the research of the X security team, there is no hacking. What happened is due to the negligence of the SEC.

## No hacking, negligence : Not even two-factor authentication done!

The SEC's fake spot Bitcoin ETF sharing from the official X account has made a huge impact on the crypto market. The crypto industry has started to scrutinize and react to the events.

The SEC's statement that account X was hacked did not sound convincing to the crypto industry. ETF analysts claimed that the SEC tweeted its approval the other day as a result of a timing error.

The security team of the X platform investigated the SEC's hacking scandal. According to the research team's findings, the SEC's X account was not actually hacked. Team X disclosed that a third party had taken over the SEC's account through its phone number. The announcement made by the security team of the X platform is as follows;

According to our investigation, the security breach was not caused by any breach of X's systems, but by an unidentified person taking control of a phone number associated with the SEC's account. We can confirm that your account has been compromised through a third party. We can also verify that two-factor authentication was not enabled at the time the account was compromised. We encourage all users to enable this extra layer of security.

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 s, but rather due to an unidentified individual obtaining control over a phone number...

— Safety (@Safety) January 10, 2024

It has come to light that the SEC was not actually hacked, but that there was negligence. The X security team said the SEC did not implement two-factor authentication in an attempt to protect account X. Many crypto investors have scoffed at the SEC's failure to protect account X on its way to protect investors.