X blames poor SEC security for account hack 

Platform X, formerly known as Twitter, said Wednesday that the hack into its Securities and Exchange Commission (SEC) account was not due to a breach of the social media company's systems.

In Wednesday's post According to an account from Company X's security team, the company blamed SEC security for a hack that led to a false post on Tuesday that appeared to announce the approval of multiple Bitcoin investment funds.

Based on a “preliminary investigation,” Company X stated that the breach “was not due to a breach of Company “It is due to this.''

Mr. X also stated that two-factor authentication was not enabled at the time the SEC account was compromised.

Two-factor authentication is a common security feature used by websites to prevent unauthorized account access. This typically involves the user authorizing the login using a phone number or email code or message sent to her account.

Two-factor authentication was readily available on Twitter even before Elon Musk took over the website in October 2022. But in March, Musk limited two-factor authentication to users who pay for a Premium X subscription.

The SEC confirmed that the account belonged to a government agency, but it is unclear whether the agency had access to two-factor authentication.

Despite these limitations, X on Wednesday encouraged “all users to enable this additional layer of security.”

An SEC spokesperson did not respond to a request for comment.

The Hill also reached out to an X spokesperson for comment on the nature of the preliminary investigation and whether the SEC account is subject to two-factor authentication given its status as a certified government account.

Tuesday's erroneous post was deleted about 30 minutes after it was posted. The account later posted a post stating that the account had been compromised and that the update had not been approved by the government agency.

The false post was published as the SEC is expected to announce approval of a Bitcoin exchange-traded fund by Wednesday following a federal court ruling.