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

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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.

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