The Safety Team of the X platform has confirmed that the U.S. Securities and Exchange Commission’s (SEC) Twitter account was compromised. The incident caused chaos in the crypto market after a fake announcement about the approval of spot Bitcoin ETFs, leading to a temporary surge in Bitcoin prices. The X platform stated that the SEC account did not have two-factor authentication enabled at the time of the compromise. The hacking occurred when an unidentified individual gained control of a phone number associated with the SEC account through a third party. The SEC and X platform are collaborating with law enforcement to investigate the incident. (Source: Cointelegraph)