According to breaking news, the person who hacked the SEC's official Twitter account in January and shared a fake news that Bitcoin spot ETFs had been approved was arrested by the FBI.
The person who carried out the hack using the SIM Swap vulnerability, according to the records, then made several searches on Google, including “SECGOV hack,” “How can I be sure if I'm being investigated by the FBI?” and “What are the signs that you're under investigation by law enforcement or the FBI, even if they haven't contacted you?”
Eric Council Jr., a 25-year-old Alabama resident, was arrested this morning in connection with the January 2024 hacking incident involving the X account, formerly known as Twitter, which the U.S. Securities and Exchange Commission (SEC) said was unlawful.
Authorities allege that Council participated in an unauthorized takeover of the account, during which hackers posted a fraudulent message that caused the value of Bitcoin (BTC) to increase by $1,000.
Council is expected to make his initial court appearance today in the Northern District of Alabama. Council faces charges of aggravated identity theft and conspiracy to commit access device fraud, as detailed in an indictment unsealed today.
According to the indictment, on January 9, 2024, Council conspired with others to gain unauthorized control of the SEC’s official X account. The hackers posted a fake message stating, “Today, the SEC approved Bitcoin ETFs for listing on all registered national securities exchanges.” The fake post temporarily caused the price of Bitcoin to increase by over $1,000 per unit.
Shortly after the false announcement, the SEC regained control of the X account and confirmed that the message was the result of a security breach. Following the SEC’s corrective action, the value of Bitcoin dropped by more than $2,000. At the time of the attack, the SEC was considering whether to approve Bitcoin exchange-traded funds (ETFs). Investigators determined that the hackers gained control of the account through a “SIM swap” attack.
The investigation also revealed that Council made internet searches such as “SECGOV hack,” “telegram sim swap,” and “how can I be sure if I am being investigated by the FBI,” suggesting he was aware of the risks associated with his actions.
*This is not investment advice.
