Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Sunday, July 6
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Bitcoin»FBI Arrests Man Who Allegedly Hacked SEC’s X Account in January and Prematurely Announced Bitcoin ETF Approval
    Bitcoin

    FBI Arrests Man Who Allegedly Hacked SEC’s X Account in January and Prematurely Announced Bitcoin ETF Approval

    October 18, 20243 Mins Read


    The Federal Bureau of Investigation (FBI) arrested on Thursday an Alabama man who is allegedly behind the hacking of the U.S. Securities and Exchange Commission (SEC)’s account on social media platform X last January.

    The United States Department of Justice says Eric Council Jr. is accused of conspiring with others to take unauthorized control of SEC’s X account and fraudulently using SEC chair Gary Gensler’s name to prematurely announce the approval of Bitcoin (BTC) exchange-traded fund (ETF).

    According to X, the regulator did not set up multi-factor authentication (MFA) for its profile.

    The fake announcement caused the price of Bitcoin to increase by more than $1,000 and then drop by more than $2,000 after the SEC regained control of its X account and declared the statement to be unauthorized and the result of a security breach.

    Council is said to have carried out the hack through an unauthorized Subscriber Identity Module (SIM) swap, which involves fraudulently inducing a cellphone carrier to reassign another person’s contact number to a SIM card controlled by the bad actor.

    The accused allegedly used the stolen identity of a person who had access to SEC’s X account to take over that person’s cellphone number and access the social media accounts linked to the phone number, enabling the premature post about Bitcoin ETFs.

    Says FBI Criminal Investigative Division Assistant Director Chad Yarbrough,

    “The defendant allegedly deceived the public by impersonating the victim and making fraudulent statements on behalf of the SEC. The FBI and our partners will continue to investigate and hold accountable those who attempt to manipulate financial markets for their own gain.”

    Council is charged with one count of conspiracy to commit aggravated identity theft and access device fraud. He faces up to five years of prison time.

    Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

    Check Price Action

    Follow us on X, Facebook and Telegram

    Surf The Daily Hodl Mix

    &nbsp

    Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

    Generated Image: Midjourney





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleDid Bitcoin Just Breakout? This Is The One Chart You Need To See
    Next Article Germany should buy Bitcoin as a strategic reserve: Samson Mow

    Related Posts

    Bitcoin

    Bitcoin Price Watch: Calm avant la tempête – pourrait-il briser le plafond de 111 000 $ cette semaine?

    July 6, 2025
    Bitcoin

    Bitcoin teste 107 000 $ après 8 milliards de dollars de transfert de baleines, mais les taureaux sont toujours dans le combat

    July 6, 2025
    Bitcoin

    Auteur de «Rich Dad Poor Dad»: «J’espère que Bitcoin se bloque. J’achèterai plus ‘

    July 6, 2025
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Property

    Amazon’s £40B UK Investment Will Centre On Property

    June 24, 2025
    Finance

    Lancement du marché à terme interbancaire, à partir de ce mercredi – Telquel.ma

    February 18, 2025
    Finance

    COP16 biodiversité: sprint final à Rome pour un accord sur la finance pour la nature

    February 26, 2025
    What's Hot

    Le prix du bitcoin passe à la première augmentation de l’IPC depuis février

    June 11, 2025

    Personal finance advice is not one-size-fits-all. Here’s why.

    July 12, 2024

    Analyse des prix Bitcoin: est-ce le dernier recul de BTC avant un autre niveau record?

    June 12, 2025
    Most Popular

    Comment se finance le terrorisme en France ? –

    February 19, 2025

    U.S. Stock Market Sees Biggest Daily Drop in Nearly 2 Years

    August 5, 2024

    L’édito crypto : Tarifs douaniers, le bitcoin sous pression

    April 4, 2025
    Editor's Picks

    Stock Market Today: A Widespread Rally on Wall Street Sends Stocks Rising, Both Big and Small

    July 26, 2024

    Microsoft asks shareholders to vote against an assessment of investing in Bitcoin in SEC filing

    October 25, 2024

    Un mineur de Bitcoin solo gagne 266 000 $ malgré la difficulté croissante

    March 22, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2025 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.