Bitcoin prices soared and then fell after a fake post from the U.S. Securities and Exchange Commission (SEC) approving the long-awaited spot Bitcoin exchange-traded fund (ETF).
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Bitcoin price soars. Image: Block Pricing Page
fake post
At 4:11 PM ET, a fake post leaked from the U.S. Securities and Exchange Commission’s ETFs will be subject to ongoing screening, oversight and compliance measures to ensure ongoing investor protection.”
The post appears to quote SEC Chairman Gary Gensler as saying, “Today’s approval improves market transparency and provides investors with efficient access to digital asset investments within a regulated framework.” Content was also included.
However, The Block has since confirmed that the X account was compromised and that the post about a spot Bitcoin ETF was a scam.
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About the author
MK Manoylov has been a reporter for The Block since 2020, joining just before Bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for publications covering all cryptocurrency-related news, preferring NFTs, metaverse, web3 games, fundraising, crime, hacking, and cryptocurrency ecosystem stories. MK holds a graduate degree from New York University’s Science, Health, and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. X You can follow MK at @MManoylov and on LinkedIn.