SEC Chair Gensler addresses X account hack in statement: 'Still assessing the impacts'

The Securities and Exchange Commission has released a statement addressing the recent hijacking of its X account, through which an unknown agent posted a false spot bitcoin ETF approval announcement. 

In a statement attributed to SEC Chair Gary Gensler, the agency claims "an unauthorized party gained access to the @SECGov X.com account by obtaining control over the phone number associated with the account." This language is reminiscent of SIM-swapping attacks, a common form of X account hijacking that can be mitigated through multi-factor authentication—something Gensler once advised in his own X post. 

In the statement, Gensler writes, "Commission staff are still assessing the impacts of this incident on the agency, investors, and the marketplace but recognize that those impacts include concerns about the security of the SEC’s social media accounts."

Gensler also notes that the agency is working with law enforcement to investigate the incident further.