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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