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Home»BLOCKCHAIN NEWS»Bitcoin falls 3% on false SEC spot Bitcoin ETF approval
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Bitcoin falls 3% on false SEC spot Bitcoin ETF approval

By Crypto FlexsJanuary 9, 20242 Mins Read
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Bitcoin falls 3% on false SEC spot Bitcoin ETF approval
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Unknown hackers hijacked the U.S. Securities and Exchange Commission’s (SEC) X account and posted fake spot Bitcoin ETF approval messages.

On January 9, SEC Chairman Gary Gensler debunked the announcement that a spot Bitcoin ETF had been approved. The notice was posted on the SEC’s official X account. However, Gensler warned that the page was compromised and that no spot Bitcoin ETF has been approved yet.

that much @SECGov The Twitter account was compromised and unauthorized tweets were posted. The SEC has not approved the listing and trading of spot Bitcoin exchange-traded products.

— Gary Gensler (@GaryGensler) January 9, 2024

This isn’t the first time hackers have misled cryptocurrency watchers and the public amid the hot anticipation for these products. In December, a fake XRP ETF was registered in Delaware, disguising BlackRock as the filer. BlackRock immediately dismissed the rumor, but the price of XRP surged 12% in 30 minutes.

Compromised SEC account approves fake spot Bitcoin ETF | Source: X

News of the approval of a fake Bitcoin (BTC) ETF received millions of views within minutes of being published. BTC price also responded with a 3% price drop.

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

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