FBI Arrests Alleged SEC Hacker Linked to Fake Tweet Saying Bitcoin ETFs Were Approved
Summary
The FBI arrested Eric Council Jr., a 25-year-old from Athens, Alabama, for allegedly hacking the SEC's X account to falsely announce the approval of bitcoin ETFs. This false post on January 9 caused bitcoin's price to spike by $1,000 before dropping $2,000 after the SEC regained control and corrected the misinformation. Council conspired with others and transferred account control to unnamed co-conspirators. He received payment in bitcoin for his involvement. The SEC officially approved the ETFs the following day.
