X security issues in the spotlight after SEC hack

<img width="250" height="166" src="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-250×166.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-250×166.jpg 250w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-700×466.jpg 700w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-768×511.jpg 768w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-120×80.jpg 120w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-245×163.jpg 245w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511-500×333.jpg 500w, https://www.leaprate.com/wp-content/uploads/2024/01/FIN-LP-X-experiences-another-value-cut-after-Fidelity-markdown-5777732725-iStock-1642292511.jpg 1255w" sizes="(max-width: 250px) 100vw, 250px" /><p>Reportedly, this breach ranks high, especially since financial markets are holding a collective breath in anticipation of this virtual currency ETF approval.</p>
<hr />
<p><a href="https://finaffiliates.us20.list-manage.com/subscribe/post?u=e0dd4d77c259eb270712a4eeb&amp;id=fd200b8f75&amp;v_id=4291&amp;f_id=00946ce6f0" target="_blank" rel="noopener">Don’t miss out the latest news, subscribe to LeapRate’s newsletter</a></p>
<hr />
<p>The Bitcoin price jumped by more than 2.5% as the post in question zipped its way through the internet highways. Gary Gensler, the SEC Chair, quickly picked up on it and posted a negation. It read:</p>
<blockquote><p>The @SECGov X account was compromised, and an unauthorized post was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.</p></blockquote>
<p>Bloomberg reported a SEC spokesperson confirmed that an unauthorised individual accessed and used the regulator’s X account for a fleeting moment. The media agent quoted Joe Benarroch, X’s head of business operations, who stated:</p>
<blockquote><p>The account is secure and we are investigating the root cause.</p></blockquote>
<p>Unfortunately, this top-shelf security breach does not spell good news for the efforts of X or its owner to regain the confidence of users and advertisers. Comments from the former security chief at Meta Platforms Inc. (META), Alex Stamos, did not do X any favours. He said:</p>
<blockquote><p>This has to be the most sophisticated use of a stolen Twitter account ever. At a minimum, this indicates that the hollowed-out X team can’t keep up with advances in account takeover techniques.</p></blockquote>
<p><a href="https://www.leaprate.com/forex/social-trading/x-experiences-another-value-cut-after-fidelity-markdown/" target="_blank" rel="noopener">Musk</a> did not address the breach directly but responded to another X user’s post which asked in jest what the SEC password was. Musk wrote:</p>
<blockquote><p>LFGDogeToTheMoon.</p></blockquote>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/forex/technology/x-security-issues-in-the-spotlight-after-sec-hack/">X security issues in the spotlight after SEC hack</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>