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Alabama man charged with hacking SEC’s X account, causing bitcoin to soar with fake post

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Alabama man charged with hacking SEC's X account, causing bitcoin to soar with fake post

An individual from Alabama was taken into custody on Thursday on charges of hacking into the Securities and Exchange Commission’s X account earlier this year, causing a surge in the value of bitcoin, federal prosecutors revealed.

In January, a hacker spread false information regarding an anticipated announcement from the SEC about bitcoin, leading to a sharp increase in the cryptocurrency’s price.

The misleading post on @SECGov claimed that the securities regulator had given approval for exchange-traded funds to include bitcoin.



In January, a hacker posted false news about a widely anticipated announcement the SEC was expected to make about bitcoin, shocking the market and sending the cryptocurrency’s price spiking. REUTERS

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