The FBI has arrested Eric Council Jr., 25, of Athens, Alabama, in reference to the January 2024 unauthorized takeover of the U.S. Securities and Trade Fee’s (SEC) X account, beforehand referred to as Twitter.
The arrest follows allegations that Council performed a key function in a hacking incident that led to a false put up from the SEC Chair’s account, which induced a brief spike within the worth of Bitcoin.
US SEC Twitter Hacker Accountable For Faux Bitcoin ETF Arrested
In keeping with the indictment, Eric Council was concerned in a conspiracy to take management of the US SEC’s X account on January 9, 2024.
The strategy used was a “SIM swap” assault, a kind of fraud the place a telephone quantity is illegally reassigned from its rightful proprietor to a tool managed by the hacker. Utilizing this methodology, Council and his co-conspirators gained entry to the SEC’s account.
After taking management, they posted a faux message from the SEC Chair, falsely claiming that the agebnxy had authorised the itemizing of Bitcoin exchange-traded funds (ETFs) on all nationwide securities exchanges. This announcement induced Bitcoin’s worth to extend by over $1,000. Nonetheless, as soon as the US SEC regained management of its account and issued a correction, Bitcoin’s worth fell by greater than $2,000.
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