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US SEC Twitter Hacker Responsible for Fake Bitcoin ETF Approval Post Arrested
Allegations of Conspiracy and Identity Theft
The Federal Bureau of Investigation (FBI) has apprehended Eric Council Jr., 25, of Athens, Alabama, in connection with the January 2024 unauthorized access of the United States Securities and Exchange Commission (SEC) X account, formerly Twitter. The arrest comes after Council was accused of participating in a hacking spree that saw a fake post from the US SEC Chair’s account increase the value of Bitcoin for some time.
Investigations and Cybercrime Charges
Council is facing charges of conspiracy to commit aggravated identity theft and access device fraud. He is set to enter a plea for the first time in the Northern District of Alabama. The U.S. Attorney Matthew M. Graves emphasized that SIM swapping is a very dangerous crime that can bring significant financial losses and compromise sensitive data.
Searches and Online Activity
Council’s online activity also raised eyebrows, as he searched for terms such as "SECGOV hack" and "how can I know for sure if the FBI is investigating me." Investigators believe these searches indicate that Council was aware of potential law enforcement scrutiny. Authorities are continuing to investigate other individuals involved in the conspiracy.
Case Overview
The indictment states that Council engaged in the conspiracy to assume control of the US SEC’s X account on January 9, 2024. The type of fraud performed was a SIM swap attack, which involves redirecting a phone number belonging to someone else to a device owned by the fraudster. With this method, Council and his accomplices gained access to the SEC’s account.
The Hack
Once they gained control, they sent a fake message from the SEC Chairman saying the agency had allowed Bitcoin ETFs to be listed on all national securities exchanges. This announcement led to a rise in the price of Bitcoin by more than $1,000. However, after the US SEC regained control of its account and made a correction, the price of Bitcoin dropped by more than $2,000.
Conclusion
The arrest of Eric Council Jr. marks a significant milestone in the investigation into the alleged hacking of the US SEC’s X account. The case highlights the importance of cybersecurity and the need for heightened vigilance in the face of cybercrime.
FAQs
Q: Who is Eric Council Jr.?
A: Eric Council Jr. is the individual accused of participating in the hacking of the US SEC’s X account and creating a fake post that increased the value of Bitcoin.
Q: What is the alleged hacking method used in the case?
A: The alleged hacking method used in the case is a SIM swap attack, which involves redirecting a phone number belonging to someone else to a device owned by the fraudster.
Q: What is the current status of the case?
A: Eric Council Jr. is currently facing charges of conspiracy to commit aggravated identity theft and access device fraud and is set to enter a plea for the first time in the Northern District of Alabama.
Q: What was the impact of the fake post on the price of Bitcoin?
A: The fake post led to a rise in the price of Bitcoin by more than $1,000, followed by a drop of over $2,000 after the US SEC regained control of its account and made a correction.
