A recent hacking incident involving the Securities and Exchange Commission (SEC) has sent shockwaves through the cryptocurrency market. An individual, Eric Council, breached the SEC’s X account by exploiting a SIM swap attack, falsely announcing the approval of a Spot Bitcoin ETF. This fabricated news caused a surge in Bitcoin prices, exceeding $4,500, only to trigger a dramatic decline when the SEC debunked the claim. 1,000+ dollars dropped as investors questioned the authenticity of future announcements. The perpetrator faces a significant punishment: 14 months in prison and three years on supervised release. This incident underscores the vulnerability of digital platforms and the importance of robust security measures.