As a seasoned researcher with a keen interest in digital finance and cybersecurity, I find myself both intrigued and dismayed by the tale of Eric Council. On one hand, the audacity of this young man to manipulate the market through such an ingenious hack is truly impressive – a testament to the power of innovation and the human spirit when pushed to its limits.
The man who hacked the official social media account of the US Securities and Exchange Commission (SEC) to post a fake announcement about the approval of a Bitcoin exchange-traded fund (ETF) has been arrested.
25-year-old Eric Council from Alabama is facing charges for his involvement in a plot to carry out aggravated identity theft and fraudulent use of devices.
At the beginning of January, the Securities and Exchange Commission (SEC) acknowledged that their account had been hacked when it prematurely disclosed the anticipated approval of a Bitcoin ETF. This false information caused a substantial increase in the price of Bitcoin, which reached $48,000.
Last week, I found myself taken aback by an unexpected cyber attack on a cryptocurrency platform. Initially, representatives from the Securities and Exchange Commission (SEC) shared with Reuters that this incident was both shocking and unforeseen.
Once it became clear that the post was a hoax, the value of the cryptocurrency plummeted by over $2,000. However, when the SEC eventually approved Bitcoin ETFs, the price of the digital currency surged significantly.
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2024-10-17 21:58