2024-01-12 09:09:34
We recently reported on the long-awaited news that the US Securities and Exchange Commission has now officially approved several spot Bitcoin ETFs.
The decision was made a day following the organization posted a fake announcement from its official X account regarding acceptance. In connection with what happened, some people came up with the point of view that the case of false registration is not the case as most people claim.
Within an hour of publication, SEC Chairman Gary Gensler denied the news. Gensler disclosed that the account was compromised because two-factor authentication was not set up.
Who might be behind this post?
Gábor Gurbacs, director of digital asset management at VanEck, which recently received an ETF license, dissected in a tweet whether the SEC deliberately wrote regarding the approval in order to delay it. Or maybe it was just posted earlier than planned?
What if this was an inside job? Is the only way to stop or delay a Bitcoin ETF is to create an event like this?
It would be unreasonable to delay… and this event should change nothing IMO. However, nothing surprises me anymore.
Or did the message just get published early?
— Gabor Gurbacs (@gaborgurbacs) January 9, 2024
Commentators said the announcement may have been released earlier than planned because it would be unlikely that the SEC would have recovered his hacked account so quickly.
Conversely, some evidence suggests that the account may have been hacked by a likely bitcoin enthusiast. Just before the post, they tweeted that “$BTC”, and then quickly deleted it. And the posts liked by the account showed that it also engaged in two posts that were not related to the SEC.
The first entry published by the SEC and then deleted.
In contrast, the details of the acceptance post indicate that it is unlikely to be a planned post that a hacker found and decided to publish. Users pointed out the “#Bitcoin” unusual use in the message. Cointelegraph noted that the attached image did not conform to previously used designs, such as missing the logo and capital letters.
While there is much speculation in the crypto community as to the reason for the misreporting by the SEC, two US senators demandedfor the agency to release a report detailing the incident.
Senators JD Vance and Thom Tillis said the case raises serious concerns regarding the committee’s internal cybersecurity processes. According to them, it is unacceptable for the agency to make such a “colossal mistake”.
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#SECs #tweet #approving #fake #ETFs
