SEC account hack renews spotlight on X's security concerns
SAN FRANCISCO/WASHINGTON: The hack of the US Securities and Exchange Commission's official account on X on Tuesday renewed concerns about the social media platform's security since its takeover by billionaire Elon Musk in 2022. The hackers posted false news about a widely anticipated announcement the SEC was expected to make about bitcoin, leading the cryptocurrency's price to spike and alarming observers. The false post on @SECGov said the securities regulator had approved exchange-traded funds to hold bitcoin. The SEC deleted the post about 30 minutes after it appeared. X confirmed later on Tuesday, following a preliminary investigation, that the SEC's account was compromised because an unidentified individual gained control over a phone number associated with the account through a third party. The social media platform also said in a post that the SEC did not have two-factor authentication enabled at the time the account was compromised. While...