The FBI has arrested a 25-year-old Alabama man named Eric Council Jr. for his alleged involvement in the hack of the Securities and Exchange Commission’s X account, which led to a false claim that bitcoin ETFs had been approved by the regulator, boosting bitcoin prices temporarily. Council was charged with conspiracy to commit aggravated identity theft and access device fraud. The indictment revealed that Council worked with co-conspirators to obtain personal information, create a fake ID, and take over the SEC’s X account to send the rogue tweet. The incident raised questions about the lack of multi-factor authentication on the high-profile account. Council’s searches on his computer, including terms like “SECGOV hack” and “how can I know for sure if I am being investigated by the FBI,” further incriminated him.SEC Inspector General Jeffrey expressed commitment to holding bad actors accountable for undermining the financial markets.
