SEC Chair Gensler addresses recent X account breach in official statement: ‘Evaluating the consequences’
The Securities and Exchange Commission (SEC) has issued a statement in response to the recent breach of its X account, where an unauthorized individual falsely announced the approval of a spot bitcoin ETF. SEC Chair Gary Gensler expressed that the breach occurred when an unknown party gained control of the @SECGov X.com account by compromising the associated phone number. This method of attack is reminiscent of SIM-swapping tactics, which can be mitigated through the use of multi-factor authentication—an aspect Gensler himself advocated in a previous X post.
Gensler acknowledged that the incident has raised concerns about the security of the SEC’s social media accounts and stated that the agency’s staff is currently evaluating the impact on the organization, investors, and the broader marketplace. Furthermore, he highlighted that the SEC is collaborating with law enforcement to conduct a thorough investigation into the matter.