Bitcoin dips 3% on false SEC spot Bitcoin ETF approval

2024-01-09 14:00:30

Unknown hackers hijacked the X account of the United States Securities and Exchange Commission (SEC), posting a fake spot Bitcoin ETF approval message.

On Jan. 9, the SEC chair Gary Gensler debunked an announcement claiming spot Bitcoin ETFs were approved. The SEC’s official X account published the notice. However, Gensler warned that the page had been compromised and clarified that no spot Bitcoin ETF had been approved yet.

This is not the first time hackers have misled crypto observers and the public amid fever-pitch anticipation for these products. In December, a fake XRP ETF was registered in Delaware and disguised to present BlackRock as the filer. BlackRock ly dispelled the rumors, but not before XRP’s price skyrocketed 12% in 30 minutes.

Fake spot Bitcoin ETF approval from compromised SEC account | Source: XThe fake Bitcoin (BTC) ETF approval news garnered millions of views minutes after its release. BTC’s price also responded with a 3% price decline.

BTC price after fake spot Bitcoin ETF approval | Source: TradingView

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