The US Securities and Exchange Commission (SEC) saw its X account hacked for a brief time, with a post claiming it has approved listings for Bitcoin exchange-traded funds (ETFs).

SEC Chair Gary Gensler later clarified in a post on his X account that the agency’s account was “compromised, and an unauthorized tweet was posted”.

The post from the SEC’s hacked account, with an image of Gensler, read: “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities. The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection.”

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The price of Bitcoin increased to $48,000 after the fake SEC post but then quickly slid below $46,000.

The SEC said late on Tuesday that the post about Bitcoin exchange-traded funds was incorrect.

“The SEC’s @SECGov X/Twitter account has been compromised. The unauthorized tweet regarding bitcoin ETFs was not made by the SEC or its staff,” an SEC spokesperson said in a statement.

The hackers who compromised the SEC’s account also started liking posts from crypto-focused accounts that were excited about the SEC’s false approval of Bitcoin ETFs.

Exchange-traded funds are assets that work like mutual funds, with shares of the ETFs trading on exchanges as stocks do.

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