FBI Arrests Alabama Man Who Allegedly Hacked SEC’s X Account To Prematurely Announce Bitcoin ETF Approval
Posted On October 19, 2024
The Federal Bureau of Investigation (FBI) has arrested an Alabama resident for allegedly hacking the U.S. Securities and Exchange Commission (SEC)‘s social media account on X earlier this year.
What Happened: The FBI apprehended Eric Council Jr. on Thursday, accusing him of conspiring with others to gain unauthorized access to the SEC’s X account in January.
Council allegedly used the name of SEC Chair Gary Gensler to falsely announce the approval of a Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF).
This fake announcement caused Bitcoin’s price to surge by over $1,000 before it plummeted more than $2,000 after the SEC regained control of its account and labeled the announcement a security breach. The …
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