Coinbase Executives Offer Security Support to SEC Following Account Hack
Coinbase executives have offered to help the U.S. Securities and Exchange Commission (SEC) following the Monday hack of the federal agency’s account on X.
“Hey @GaryGensler and @SECGov, serious offer: as a crypto exchange we’ve had a lot of experience with security protocols around social media, and as a veteran and patriot I love to help my country,” Coinbase’s Chief Security Officer, Philip Martin, posted to X Tuesday night. “If you’d like any suggestions feel free to reach out.”
“The entire @coinbase team offers its help,” said the crypto exchange’s Chief Legal Officer Paul Grewal. “We are committed to doing our part to ensure fair, orderly and efficient markets for all Americans.”
hey @GaryGensler and @SECGov, serious offer: as a crypto exchange we've had a lot of experience with security protocols around social media, and as a veteran and patriot I love to help my country. If you'd like any suggestions feel free to reach out. https://t.co/w3z2yU6FZw
— Philip Martin (@SecurityGuyPhil) January 10, 2024
The Coinbase executives’ offers follow a turbulent day for the SEC after their official X account was hacked and posted a tweet falsely claiming the federal agency had approved a spot bitcoin ETF.
“The @SECGov twitter account was compromised, and an unauthorized tweet was posted,” SEC Chair Gary Gensler posted to X Tuesday afternoon. “The SEC has not approved the listing and trading of spot bitcoin exchange-traded products.”
Following the SEC hacker’s post, the price of Bitcoin shot up to $48,000 before ultimately dwindling back down to $44,000. As of late Wednesday morning, Bitcoin was trading at around $45,000.
Shortly after Gensler’s post, Senators Thom Tillis (R-NC) and JD Vance (R-OH) drafted a letter to
