U.S Senators Call For Reports on The SEC X Account Breach
Senators Vance and Tillis Request SEC Report on X Account Breach; False Bitcoin ETF Tweet Raises Cybersecurity Concerns.
Two U.S. Senators, J.D. Vance and Thom Tillis have asked the SEC to report on its Jan. 9 X account breach to Congress. They voiced concerns about the SEC's cybersecurity after a false Bitcoin ETF approval tweet was made on the SEC’s X page causing the market to quickly pump and dump.
The Senators wrote a letter to SEC Chair Gary Gensler requesting a detailed report by Jan. 23, highlighting the importance of cybersecurity in protecting markets and investors.
The false tweet confused and raised questions about the SEC's online security. The X team carried out an investigation and discovered that the SEC's account was compromised due to a phone number breach, not X's systems.
Other government officials, including Senators Lummis and Hagerty, have also demanded clarity on the incident. They stress the importance of safeguarding against such breaches that can impact markets.
