SEC account hack renews spotlight on X's security concerns

FILE PHOTO: 'X' logo is seen on the top of the headquarters of the messaging platform X, formerly known as Twitter, in downtown San Francisco, California, U.S., July 30, 2023. REUTERS/Carlos Barria/File Photo

SAN FRANCISCO/WASHINGTON (Reuters) - The hack of the U.S. Securities and Exchange Commission's official account on X on Tuesday renewed concerns about the social media platform's security since its takeover by billionaire Elon Musk in 2022.

The hackers posted false news about a widely anticipated announcement the SEC was expected to make about bitcoin, leading the cryptocurrency's price to spike and alarming observers. The false post on @SECGov said the securities regulator had approved exchange-traded funds to hold bitcoin. The SEC deleted the post about 30 minutes after it appeared.