CandleFocus FBI Arrests Suspect in SEC Twitter Hack That Pumped Bitcoin
2024-10-17
Author: Content Editor
The FBI has arrested a man, Eric Council Jr., for hijacking the Twitter account of the Securities and Exchange Commission (SEC) and posting a false statement in January that the agency had approved Bitcoin exchange-traded funds (ETFs). This led to a significant increase in the price of Bitcoin. Council allegedly used a "SIM swapping" technique to gain unauthorized access to the SEC's Twitter account. The price of Bitcoin initially rose by over $1,000 before later plummeting by $2,000 once the false statement was debunked. U.S. Attorney Matthew Graves stated that SIM swapping schemes can result in financial losses and leaks of sensitive information, and those involved will be held accountable.
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