Cointime

Cointime

Download App
iOS & Android
Home / Point

Hack of SEC's Official Account on X Raises Concerns About X's Security

The recent hack of the U.S. Securities and Exchange Commission's official account on X has raised concerns about the security of Elon Musk's social media platform. However, X's safety team has confirmed that the account was compromised due to the SEC's failure to enable two-factor authentication, rather than any breach of X's systems. The hackers posted false news about the SEC's approval of all spot Bitcoin ETFs, causing massive volatility in the Bitcoin price and over $140 million in total liquidation in hours. The SEC is now working with law enforcement to investigate the matter, while some are blaming Elon Musk for the incident and the lack of security measures on the platform.

SEC hacker security
Comments

All Comments

Recommended for you

  • Family Offices Evolve into Powerful Investment Entities with Innovative Strategies and Advanced Technologies

    Family offices, which traditionally focused on conservative investment strategies, have transformed into powerful investment entities with a focus on alternative investments, private equity, co-investments, venture capital, and impact investing. This shift has been driven by innovative financial solutions and modern investment strategies, responding to technological advancements and an evolving global financial landscape. Family offices are taking a more active role in direct investments and co-investments, particularly in high-growth companies and startups, enhancing their control and flexibility. They are also diversifying further into private markets and real assets due to geopolitical and macroeconomic uncertainties, while embracing innovative financing solutions and cutting-edge risk management techniques. Additionally, family offices are implementing AI technologies to improve their decision-making processes, particularly in investment analysis, reflecting their commitment to innovation and strategic planning.

  • The Evolution of Family Offices: Embracing Innovative Investment Strategies and Technology

    Family offices have shifted from conservative investment strategies to more active roles in direct investments and co-investments, thanks to innovative financial solutions and modern investment strategies. They are now leaders in alternative investments, private equity, co-investments, venture capital, and impact investing, leveraging their capital through non-recourse and limited-recourse financing to expand their investments across sectors and regions. Family offices are also adopting sophisticated risk management strategies, diversifying further into private markets and real assets, and integrating advanced technologies such as AI-driven platforms to enhance decision-making processes. A family office in the UAE, International Venture Investments Holding, takes an active investment approach, emphasizing operational autonomy and forming dedicated management teams for specific projects. The UBS Global Family Office Report 2024 shows that 78% of family offices plan to invest in generative artificial intelligence in the next two to three years.

  • Source: a16z expected to get a seat on Trump’s cryptocurrency advisory board

    On November 22nd, according to multiple executives in the digital asset industry, many cryptocurrency companies such as Ripple, Kraken, and Circle are vying for seats on the cryptocurrency advisory committee promised by President Trump, seeking to have a say in their plans for US policy reform. One source said that the cryptocurrency department of venture capital giant Andreessen Horowitz, a16z, is expected to receive a seat, but currently an a16z spokesperson declined to comment on the matter.

  • UK to Draft Regulatory Framework for Crypto Industry by Early Next Year

    The U.K. intends to create regulations for the cryptocurrency industry by early 2022, with a focus on stablecoins and staking services. This announcement by Economic Secretary Tulip Siddiq at a conference in London will provide clarity for the industry after months of uncertainty. The new framework will be eagerly awaited by those in the industry, as Bitcoin continues to break records and gain mainstream acceptance.

  • Matrixport: It is recommended that institutional investors allocate both Bitcoin and gold

    On November 22, Matrixport's latest weekly report shows that the progress of the fifth Bitcoin bull market coincides with its prediction for July 2023. The report predicts that Bitcoin will reach $125,000 in December 2024, and with Bitcoin approaching the $100,000 mark, this prediction becomes more credible.

  • How Crypto Could Help Open-Source AI Reach Its Potential

    The impact of artificial intelligence (AI) is being felt across various sectors, including drug discovery, workforce productivity, and personalized content on streaming platforms like Netflix. Experts predict that the AI industry will grow by 40% annually and reach a trillion-dollar market by 2030, potentially transforming industries on an unprecedented scale. The use of cryptocurrency could play a crucial role in enabling open-source AI to overcome current limitations and reach its full potential.
  • cointelegraph ·

    Trump pledges to fire SEC Chair Gary Gensler ‘on day one’ if reelected

    The Republican candidate laid out a plan for crypto policies should he win in November against prospective Democratic presidential nominee Kamala Harris.
    Trump pledges to fire SEC Chair Gary Gensler ‘on day one’ if reelected

  • Cointime June 29th News Express

    1. In the past 24 hours, the transaction volume of Pudgy Penguins was nearly 2 million US dollars, an increase of nearly 700%

  • The US SEC has returned the S-1 form to the potential Ethereum ETF issuer with a few comments, asking it to fix the problem and resubmit.

    The US Securities and Exchange Commission has returned the S-1 form to the potential Ethereum ETF issuer with some comments, asking them to address the issues and resubmit. Sources say that at least one more round of review is needed before these measures can take effect. The issuer has reportedly been asked to address these comments and resubmit before July 8th. Sources note that this will not be the final declaration after the form is returned, meaning that at least one more declaration is needed before the ETF can begin trading.

  • Rapper 50 Cent claims that his X account was hacked, and the hacker promoted cryptocurrency and defrauded about $300 million

    On June 22nd,famous rapper Curtis James Jackson III (stage name "50 Cent") claimed that his former Twitter account and website were hacked, resulting in hackers promoting a cryptocurrency scam and defrauding victims of $30 million.The hackers created a new cryptocurrency called "GUNIT" and used 50 Cent's large following (approximately 12.9 million fans) to attract more investors and drive up the price, then drained its value, causing the token price to plummet to $0.00016. On June 21st, 50 Cent posted on Instagram to his 32.8 million fans about the hack and admitted that a large amount of funds from victims had been lost from the project. "Twitter quickly locked my account. Whoever did this, got $30 million within 30 minutes," 50 Cent claimed, stating that he had no involvement with this cryptocurrency scam.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company