The US Securities and Exchange Commission (SEC) faced a major cybersecurity incident when its X handle was breached due to the lack of two-factor authentication. The Elon Musk-owned company launched a probe and found that the account was compromised because the SEC did not have two-factor authentication enabled. No company system was breached. The hack had an impact on the crypto market as a fake post about bitcoin ETF approval caused a brief price surge before being removed and investigated.
Source: Times of India/TOI