{"id":68655,"date":"2024-01-10T05:35:21","date_gmt":"2024-01-10T09:35:21","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=68655"},"modified":"2024-01-10T05:35:50","modified_gmt":"2024-01-10T09:35:50","slug":"x-security-questioned-after-unauthorized-us-sec-account-access","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/x-security-questioned-after-unauthorized-us-sec-account-access\/","title":{"rendered":"X\u00a0Security Questioned After Unauthorized US SEC Account Access"},"content":{"rendered":"\n

Elon Musk's X is criticized by skeptics for the SEC's X account security incident<\/a>, which sparked a cryptocurrency market uproar.<\/p>\n\n\n\n

\"X\u00a0Security<\/figure>\n\n\n\n

Tuesday's breach of the official X account of the U.S. Securities and Exchange Commission has reignited concerns regarding the security of Elon Musk's social media platform.<\/p>\n\n\n\n

However, the X safety team has verified that the account intrusion occurred as a result of the SEC's failure to enable two-factor authentication, as opposed to an actual compromise of X's systems.<\/p>\n\n\n\n

Security Concerns Regarding X Following Elon Musk's Takeover<\/h2>\n\n\n\n

The hackers disseminated inaccurate information regarding the SEC-approved spot Bitcoin ETFs.<\/p>\n\n\n\n

Meanwhile, the SEC removed the post approximately 30 minutes after it was published, according to a Reuters report on January 10.<\/p>\n\n\n\n

An investigation by X confirmed that the SEC's account had been compromised\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> after\u00a0an unidentified individual obtained control over a phone number associated with the security agency via a third party.<\/p>\n\n\n\n

X further stated in a post that the SEC official account did not support two-factor authentication.<\/p>\n\n\n\n

Additionally, X stated that no breach of the platform's systems had occurred.<\/p>\n\n\n\n

Nonetheless, security analysts express concern regarding the incident.<\/p>\n\n\n\n

Others are attributing the incident and the platform's inadequate security measures to Elon Musk.<\/p>\n\n\n\n

\n

\u201cSomething like that, where you can take over the SEC account and potentially affect the value of bitcoin in the market \u2013 there\u2019s a massive opportunity for disinformation,\u201d said Austin Berglas, a former cybersecurity official at the FBI\u2019s New York office and a senior executive at the security firm BlueVoyant.<\/p>\n<\/blockquote>\n\n\n\n

According to data from Coinglass, the fake SEC announcement caused enormous volatility in the Bitcoin price<\/a>, resulting in the liquidation of more than $140 million in a matter of hours.<\/p>\n\n\n\n

The current BTC price is less than $46,000 due to the fabricated SEC post.<\/p>\n\n\n\n

Currently, law enforcement and other government agencies are collaborating with the SEC to investigate the incident.<\/p>\n\n\n\n

Meanwhile, members of Congress demand explanations from the SEC and Gensler regarding the error.<\/p>\n","protected":false},"excerpt":{"rendered":"

Elon Musk’s X is criticized by skeptics for the SEC’s X account security incident, which sparked a cryptocurrency market uproar. Tuesday’s breach of the official X account of the U.S. Securities and Exchange Commission has reignited concerns regarding the security of Elon Musk’s social media platform. However, the X safety team has verified that the […]<\/p>\n","protected":false},"author":56,"featured_media":68661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,11476,9],"tags":[1613,3955,8615,17307],"class_list":["post-68655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-hacks-and-scams","category-tech","tag-bitcoin-etf","tag-securities-and-exchange-commission","tag-spot-bitcoin-etf-2","tag-x-twitter"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/01\/ap744246684318_custom-d6e82c2d4c7437d0bffed1255476ea793875de2b-s1200-c85.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=68655"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/68655\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/68661"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=68655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=68655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=68655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}