The US Securities and Exchange Commission's (SEC) social media account being compromised is concerning. Impersonations and hacks are nothing new in the cryptocurrency space but could the hack have been avoided? After the post, the SEC started an internal market manipulation investigation on itself. X, formerly known as Twitter, confirmed the SEC’s account was compromised when it posted the fake spot Bitcoin ETF approval announcement. Senator Cynthia Lummis tweeted: “Fraudulent announcements, like the one that was made on the SEC’s social media, can manipulate markets. We need transparency on what happened.”