SEC Says FBI Is Investigating Compromise of Agency’s X Account

A highly anticipated decision by the US Securities and Exchange Commission on whether to approve a spot-Bitcoin exchange-traded fund quickly morphed into a major cybersecurity incident that is being probed by the FBI.

The SEC’s X account was compromised and a fake post claiming that the agency had green lit plans for the products fueled a brief surge in the price of the world’s biggest cryptocurrency on Tuesday. The SEC, Wall Street’s main regulator, said on Wednesday that the Federal Bureau of Investigation was investigating the incident.

“It really shows the breadth and frequency of cyberattacks,” said Kurt Gottschall, ...