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 Change Fee’s (SEC) X account, beforehand often known as Twitter.
The arrest follows allegations that Council performed a key position in a hacking incident that led to a false submit 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 response to the indictment, Eric Council was concerned in a conspiracy to take management of the US SEC’s X account on January 9, 2024.
The tactic 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 technique, 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 value to extend by over $1,000. Nevertheless, as soon as the US SEC regained management of its account and issued a correction, Bitcoin’s value fell by greater than $2,000.
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Kelvin Munene Murithi
Kelvin is a distinguished author with experience in crypto and finance, holding a Bachelor’s diploma in Actuarial Science. Recognized for his incisive evaluation and insightful content material, he possesses a robust command of English and excels in conducting thorough analysis and delivering well timed cryptocurrency market updates.
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