FBI Arrests US SEC Twitter Hacker Responsible For Fake Bitcoin ETF Approval Post

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As a seasoned researcher who has witnessed countless cybercrimes and their aftermath, I can’t help but feel a sense of deja vu when reading about this latest incident involving Eric Council Jr. The SIM swap attack, the unauthorized takeover of a high-profile account, the false announcement that causes market chaos – it’s all too familiar.

The FBI has arrested Eric Council Jr., 25, of Athens, Alabama, in connection with the January 2024 unauthorized takeover of the U.S. Securities and Exchange Commission’s (SEC) X account, previously known as Twitter.

The detention occurred after accusations emerged that the Council was instrumental in a hacking event resulting in a misleading post from the Securities and Exchange Commission Chairman’s account. This deceptive post triggered a brief increase in the price of Bitcoin.

US SEC Twitter Hacker Responsible For Fake Bitcoin ETF Arrested

Based on the charges, Eric Council is accused of being part of a plot to seize control over the U.S. Securities and Exchange Commission’s X account on January 9th, 2024.

They exploited a “SIM swap” scam, which involves unlawfully transferring a phone number from its legitimate user to a device managed by the cybercriminal. Employing this strategy, Council and his accomplices managed to infiltrate the Securities and Exchange Commission’s account.

Following their takeover, they circulated a fabricated statement from the Securities and Exchange Commission (SEC) chair, deceitfully stating that agebnxy had authorized the trading of Bitcoin exchange-traded funds (ETFs) on all U.S. stock exchanges. This misinformation led to an increase in Bitcoin’s value by approximately $1,000. However, once the SEC regained control over its account and clarified the error, Bitcoin’s price plummeted by more than $2,000.

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2024-10-17 19:13