Hoax: No Bitcoin ETF approval (yet) | Bitcointalksearch.org

Synchronice

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Quote from: Bitcoin_Arena on January 09, 2024, 06:40:50 PM

Here is the irony. SEC made this tweet last year. Cheesy

They have been singing of how crypto is a scam for years and of how they have been giving the US citizen security against scams and market manipulation, but the so-called SEC can't even secure their own x account.

What does this tell you about the Government? Do not trust and blindly follow whatever they say.

Maybe they tested their power? How easy is it to speculate bitcoin's price and make millions of dollars? If they are so dumb that their twitter account got hacked and they didn't really have 2FA on that, then there is a very big inner problem that needs fix at first before they actually approve Bitcoin ETFs.

To be honest, they are probably so dumb that they wanted to auto-post it tomorrow but someone accidentally posted it immediately Cheesy

Quote from: NotATether on January 10, 2024, 01:32:50 AM

Governments at large do not really know how to do cybersecurity, because the hackers are faster than not only the researchers, but they are also faster than whatever dinosaurs in the government are making policy - even the FBI can't do much to help here.

I think that Nepotism is the problem. They choose dumb relatives instead of smart, hard-working talents. Then these dumb people set rules and decide the everyday life of the society.

blckhawk

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The gall of that troll to do that hack is just so awesome to me, they're probably planning to do this for a really long time now and they've probably got a bet that it's going to push the price to go up so they did just that to make this bet come true. Did this affect the price though? I'm pretty that this kind of fake news can affect the market right? I like what @Kelward's saying tha this could be an inside job to test the water is, that seems to be a likely thing to happen too but my mind just went to the part where it's a troll hacker.

Z390

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Well done SEC for making yourselves look so stupid, even though it's a manipulation, and all part of your plan, but people will doubt that you guys will do a very good job, I think SEC should be scrapped and the government or who ever give them this authority should build something new from scratch.

I think the major plan haven't been unfold yet I believe these people are planning something that might never be forgotten in crypto history, let's wait and see what will happen from now on.

AirtelBuzz

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The US Securities Exchange posted his and the commission saying the Bitcoin ETF had been approved, and soon after Gray Gensler said the @SECGov (X) Twitter account had been compromised and also posted an unauthorized tweet about it. No twitter account hacked before but today twitter account hacked after bitcoin etf approval announcement? Maybe a new play in Bitcoin ETFs.

Quote from: Franctoshi on January 10, 2024, 08:05:31 AM

Why all these dramas and delays by the SEC?

So many memories Cry

X(Twitter)

Kelward

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Quote from: EL MOHA on January 09, 2024, 04:43:09 PM

Doesn’t this look more like a planned thing for Manipulation? The account get hacked just few hours to when rumor has it that they will be a statement about it. This whole saga doesn’t just add up to me because whenever bitcoin does well a rumor like this suffices now it’s account hacking? SEC must really be having us on the balls.

So it could be an inside job, perhaps a group from the inside to test how the crypto community will react to the much awaited and anticipated news of Bitcoin ETF. One thing is certain now that it's a fake news, so where do we go from here and when are we looking at to hear the authentic news? I'm hoping that we're not hit by another fake news again.

bluebit25

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Actually, I feel that these things are quite ridiculous, SEC performed worse than amateur actors when delivering a very poor quality play, they want us to react more.

I also have some negative speculations about creating liquidity for fish that have accumulated a lot of goods before, but the hypothesis is not convincing. Coincidentally, when I received the notification on wait more.

Either way, everything is in place for approval sooner or later, a little more delay only increases the suspense and remains as always the optimism that this will have to happen.

alastantiger

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Quote from: Franctoshi on January 10, 2024, 08:05:31 AM

Why all these dramas and delays by the SEC?
To me, this is just market manipulation period, and no compromise, SEC knows exactly what they're doing, kind of trying to see market reaction should they approve the ETFs application, maybe some things are going on behind the scene that we the masses don't know. I'm even thinking that they won't approve the Spot ETFs today, and it will get shifted to March.

The SEC is facing issues, the paradox being that BTC and blockchain are the future, not just for visionaries. The tsunami of legal demands is looming if it doesn't authorize the requests for the BTC ETF from several companies. It has already lost one lawsuit the judges stated that there is no objective reason to deny authorization for the ETFs. The U.S. government is not inclined to allow more legal challenges.

Franctoshi

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Why all these dramas and delays by the SEC?
To me, this is just market manipulation period, and no compromise, SEC knows exactly what they're doing, kind of trying to see market reaction should they approve the ETFs application, maybe some things are going on behind the scene that we the masses don't know. I'm even thinking that they won't approve the Spot ETFs today, and it will get shifted to March.

_act_

legendary

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Quote from: highalch on January 10, 2024, 05:28:05 AM

To be precise, all we know after the X security team's clarification is, that someone managed to access the account due to the lack of 2FA.

It doesn't say, an external hacker or a malicious SEC intern... The possibility is still there. It could've been an inside job with the same 50% chance.

How will United States SEC account not using 2FA after several news of Twitter account that were compromised. This is not new. The hackers were able to have control over the account because of SEC mistake.

I am guessing that it might be an insider work but this can be very wrong. If other Twitter account can be compromised, it is possible that this might be an outsider work.

US senators are seeking explanation about this and Monday is the deadline. Let us see what they Gary Gensler will say about it. https://cointelegraph.com/news/us-senators-letter-gary-gensler-congress-report-x-breach-4-days

tvplus006

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Quote from: STT on January 10, 2024, 03:38:59 AM

Its not impossible the 2fa could have been enabled and it was still compromised somehow. ...

The administration of X (Twitter) in its post explained the reasons why the SEC account was hacked: "Based on our investigation, the compromise was not due to any breach of X’s systems, but rather due to an unidentified individual obtaining control over a phone number associated with the @SECGov account through a third party. We can also confirm that the account did not have two-factor authentication enabled at the time the account was compromised" - https://twitter.com/safety/status/1744924042681897343

highalch

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Quote

To fish out? They were hacked, you can't fish out a hacker unless you send cyberpolice and FBI to X's San Francisco headquarters to investigate the breach.

To be precise, all we know after the X security team's clarification is, that someone managed to access the account due to the lack of 2FA.

It doesn't say, an external hacker or a malicious SEC intern... The possibility is still there. It could've been an inside job with the same 50% chance.

NotATether

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Quote from: Lida93 on January 10, 2024, 02:00:14 AM

I think the SEC needs to conduct a thorough investigation to fish out anyone behind the fake release of the ETF approval news to allay the fears of the public in questioning their guaranteed security, and also the action if taken may likely dissolve the suspicion from the public about the SEC intentionally pulling this show.

To fish out? They were hacked, you can't fish out a hacker unless you send cyberpolice and FBI to X's San Francisco headquarters to investigate the breach.

The SEC should also look to having "additional protections" on their account, sort how how Trump's account had them which prevented it from getting hacked back in 2020.

STT

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Its not impossible the 2fa could have been enabled and it was still compromised somehow. It might be a few different people are able to access that account and you only need to compromise the security of one of those people or computers on a network and you have a route to that account. A chain is only as strong as its weakest link.
Any news outlet really should be confirming their sources when reporting news, its not the first time this kind of event has occurred. The motivation is quite clear when the result of the news can be immediately traded for a profit. If anything I bet the people who did this will disappointed it was a relatively small move. Also BTC is doing quite well still when it could have triggered some decline.

naira

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What I want to criticize about this incident is the SEC Twitter/X account which was careless in not activating 2fa? It's ridiculous, what's more, this moment can be used as a reference by the SEC that just one piece of news can significantly influence the price of Bitcoin. We personally have temporarily stopped DCA activities, because we are still waiting for clearer confirmation. In my opinion, the current market condition is unhealthy where investor fomo enters by swallowing wrong information. Luckily the market stabilized again above $46K. This surge occurred quite briefly, in the end the bitcoin ETF will definitely be approved this year, but the time cannot be confirmed, because the submission of proposals continues to be postponed, resulting in the saturation phase starting to appear.

hugeblack

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I was asleep when this drama happened. Did any official media broadcast this news, TV channels or any coverage? Did they apologize after they found out about the news? This is very funny? Today is going to be a long and full of rumors so I decided to mute ETF/SEC and wait until tomorrow to find out the details.

Lida93

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Quote from: franky1 on January 09, 2024, 04:36:14 PM

fake news
above

gensler just mentioned the announcement tweet was fake

https://twitter.com/GaryGensler/status/1744833049064288387
The @SECGov
twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.

Isn't this weird and manipulative from within the SEC itself and another gimmick pulled to further the delay of the spot bitcoin ETF approval as all expectations has soared that it will be approved anytime this week.

Just Jameson Loop ironically questioned, If the SEC can't guarantee the security of their official X account from compromise what is the investors guarantee of being protected from vicious actors in the market when the ETF eventually received official authentic approval.

I think the SEC needs to conduct a thorough investigation to fish out anyone behind the fake release of the ETF approval news to allay the fears of the public in questioning their guaranteed security, and also the action if taken may likely dissolve the suspicion from the public about the SEC intentionally pulling this show.

Charles-Tim

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Quote from: NotATether on January 10, 2024, 01:32:50 AM

Just because it's called the Securities and Exchange Commission, doesn't mean that they are Security experts Wink

you got two different words here.

Governments at large do not really know how to do cybersecurity, because the hackers are faster than not only the researchers, but they are also faster than whatever dinosaurs in the government are making policy - even the FBI can't do much to help here.

I am disappointed with the United States SEC for not using 2FA to secure their X account. I will also blame it on Twitter also because it is one of the social media that people's and organization's account are getting compromised. If something like this is happening, they should let people to be using 2FA compulsorily. But I am highly still disappointed that this could be coming from the SEC.

NotATether

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Quote from: Orpichukwu on January 09, 2024, 04:55:21 PM

The question is: who hacked the sec account? I mean US SEC, which is supposed to take their security very seriously, and they don't know when their official page was compromised and news was made about it.

Then again, upon all the news and details of things that the hacker could have used the account for in the short period of time that they had access to the account, why just post something about ETF approval? What are they trying to do—channel the attack on those who file for bitcoin ETF? Or are the hackers trying to manipulate the market with the news? I have so many questions to ask regarding this incident.

Just because it's called the Securities and Exchange Commission, doesn't mean that they are Security experts Wink

you got two different words here.

Governments at large do not really know how to do cybersecurity, because the hackers are faster than not only the researchers, but they are also faster than whatever dinosaurs in the government are making policy - even the FBI can't do much to help here.

Kakmakr

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Yea, I see FUD and "clickbait" articles being posted all over the Internet about these Bitcoin ETFs.

You also see a lot more articles with "negative" and "misguided" information being posted by mainstream media that are not supporting Crypto currencies. (The old school fat cats that got rich from Fiat investment options and family money)

adaseb

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Well it doesn’t look good going into tomorrow. We got the final deadline for ark. So it’ll be a rejection or they will just approve it.

If they reject it then most people will think that the rest will be rejected also and there will be a massive sell off. Tomorrow is basically the most important day of the year for bitcoin. They can’t delay the ark any further. Even due to this hack news.

Topic: Hoax: No Bitcoin ETF approval (yet) (Read 453 times)