Categories Tech News
Hacker arrested for the fake SEC tweet that caused a Bitcoin price spike
October 17, 2024
The FBI has arrested an Alabama man who is accused of hacking the Securities and Exchange Commission’s X account in January. The indictment (PDF) alleges that 25-year-old Eric Council Jr. worked with co-conspirators to take control of the account and post a fake message from SEC Chair Gary Gensler about Bitcoin ETFs that caused the price of Bitcoin to jump by more than $1,000 momentarily.
To carry out this scheme, Council is accused of creating a fake ID using the information belonging to the person in control of the SEC’s X account. He then allegedly tricked AT&T into providing a SIM card with the victim’s phone number and install it into a new iPhone he purchased. Finally, Council was able to gain control of the SEC’s account using…