Elon Musk Reacts to SEC Hack: Dogecoin Commented!

As a result of a bizarre incident, the official Twitter account of the US Securities and Exchange Commission (SEC) was hacked. This led to the spread of a fake tweet announcing the endorsement of spot Bitcoin ETFs. This incident also attracted attention with the comment of Elon Musk. It caused the billionaire to join in with a cheerful comment, indicating his continued interest in the cryptocurrency space.

Elon Musk comments on SEC's X account hacking

In response to the SEC's hacked Twitter account, Elon Musk took to social media to add some humor to the situation. Musk mocked the regulator by commenting "LFGDogeToTheMoon (Dogecoin to the Moon)" under a post discussing the possible passwords of the SEC's Twitter account, and playfully suggested that Dogecoin rise to lunar highs.

LFGDogeToTheMoon!!

— Elon Musk (@elonmusk) January 9, 2024

Elon Musk's commentary, infused with his trademark intelligence, not only highlighted the audacity of the SEC's Twitter hack but also revealed Musk's ongoing awareness of the latest developments in the cryptocurrency market. Despite his previous statements stating that his thoughts on cryptocurrencies are declining, Musk's involvement underscores his continued interest in the evolving landscape.

Fake Bitcoin ETF news

As Kriptokoin.com reported, the overnight hack led to a misleading tweet from the SEC's official account and a false announcement of the approval of spot Bitcoin ETFs. SEC Chairman Gary Gensler quickly addressed the situation, confirming the falsehood of the tweet and revealing that the SEC's account had indeed been compromised.

The incident has raised concerns about the potential consequences of breaching a government agency's account. Alex Stamos, CTO of SentinelOne, noted the complexity of hacking, noting that it could be one of the most sophisticated uses of a stolen Twitter account to date. Stamos stressed the need for caution in the face of evolving cyber threats, noting that even built-in security measures may not always be foolproof.

Dogecoin price not affected

As news of the SEC's Twitter hack spread, the cryptocurrency market experienced a brief rally and Bitcoin prices rose by over 2.5%. However, when the truth behind the fake tweet was revealed, the market quickly corrected, highlighting the sensitivity of cryptocurrencies to outside influences, even influences as unusual as the hacked regulatory Twitter account. The incident is a reminder of the importance of robust cybersecurity measures in ever-evolving cryptocurrencies. The real ETF news is expected to come today, January 10.

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