SEC Chair Gary Gensler has stated the agency is taking the recent cybersecurity breach of its X account seriously.
On January 10th, an unauthorized party gained control of the SEC’s official X handle and posted a fraudulent message stating the SEC had approved a spot Bitcoin exchange-traded fund.Â
Gensler said the SEC is working with law enforcement and security agencies like the FBI and Homeland Security’s Cybersecurity and Infrastructure Security Agency to investigate the incident.
While there is currently no evidence the hacker accessed other SEC systems, data or accounts, the agency is evaluating the potential impacts on other government entities and crypto investors and markets.
According to a statement, the unauthorized access to the SEC’s account was terminated within an hour and a half of the initial breach. Gensler noted the SEC does not use social media to announce official decisions and said staff will assess whether additional security measures are needed.
The agency is collaborating with Congress on the matter, including Senators Wyden and Lummis who have called for an inspector general investigation into SEC cyber practices.
Overall, Gensler emphasized the SEC is taking the security breach very seriously and is working diligently with partners to understand how it happened and prevent future incidents. The investigation remains ongoing.
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