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[Anchor]

Investors were confused by the spread of fake news that U.S. financial authorities approved a spot exchange-traded fund ETF for the cryptocurrency Bitcoin.

The hacked social media X account was the source, and leading foreign media were also deceived.

I'm reporter Lee Chi-dong.

[Reporter]

News that the U.S. Securities and Exchange Commission and the SEC have approved the spot exchange-traded fund and ETF of the cryptocurrency Bitcoin first appeared on X (X), an old Twitter account, in the early morning of the 10th Korean time.

Some foreign media were quick to tell this, and the price of Bitcoin once rose more than $1,000 and approached $48,000.

This is the highest level since March 2022.

The surge didn't last long.

The Securities and Exchange Commission said the official X account was hacked and that it had not approved Bitcoin's spot ETF.

The price immediately dropped back down to $45,000.

In response to the commotion, the New York Times said, "The cryptocurrency industry was happy for 15 minutes."

U.S. authorities have launched an investigation into the hacking that caused the disturbance.

X has not made an official statement.

Expectations for the approval of the Bitcoin ETF have not been dampened.

There's less than a day left before asset manager Ark Investments has to decide whether to approve the launch of the Bitcoin spot ETF.

"There is also momentum for the Bitcoin spot ETF, where everyone is expecting SEC approval."

In October, the market also fluctuated as fake news related to the approval of Bitcoin ETFs spread through virtual currency media.

I'm Lee Chi-dong, Yonhap News Agency. ([email protected] )

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