FBI is investigating the Security and Exchange Commission hack after its fake bitcoin post – CNN reports

The Securities and Exchange Commission said Wednesday the FBI is investigating the hack of the agency’s social media account that rocked the bitcoin world earlier this week ahead of the regulator’s approval of a bitcoin exchange-traded fund late Wednesday, according to CNN.

“The SEC continues to investigate the matter and is coordinating with appropriate law enforcement entities, including the SEC’s Office of the Inspector General and the FBI,” an SEC spokesperson said in a statement.

The SEC said that the “unauthorized content” on the agency’s verified account on X (formerly known as Twitter) was “not drafted or created by the SEC.”

Republican Sens. JD Vance and Thom Tillis slammed the SEC in a letter to SEC on Wednesday night.

“It is unacceptable that the agency entrusted with regulating the epicenter of the world’s capital markets would make such a colossal error,” they wrote.

A spokesperson for X later said that the SEC’s social media account lacked the basic security measure of two-factor authentication, raising serious questions about the agency’s cybersecurity protocols.

That alleged lack of security is particularly befuddling, given the SEC’s previous ruling that social media posts could serve as public announcements for investors.

The financial community is closely monitoring the SEC’s response to this breach, which could lead to significant changes in how financial information is disseminated in the digital age.