A 25-year-old hacker, Eric Council Jr. was arrested today for his unauthorized control over SEC’s X account in January 2024. The hack ended up in spiking the price of Bitcoin by $1000. Later it dropped back by $2000.
The hacker had made a fake post from the SEC Chair. The post gave fraudulent approval to Bitcoin ETFs stating “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.”
It was announced in the press release by U.S. Department of Justice (DOJ) that the hacker has been arrested for conspiring to commit identity theft and performing device fraud. Furthermore, it was mentioned that the hacker used an unauthorized SIM swap to access the SEC account, which allowed his group members to post fake announcements.
Source: https://www.cryptopolitan.com/sec-twitter-hacker-arrested-the-man-behind-bitcoin-value-spike-in-january-2024/