An Alabama male was jailed on Thursday earlymorning after districtattorneys declared he hacked the U.S. Securities and Exchange Commission’s social media account, which published a incorrect statement about the approval of area bitcoin exchange-traded funds. Eric Council Jr. is implicated of taking over the SEC’s X account in January and then moving control to unnamed co-conspirators, whose phony post triggered a spike in bitcoin’s cost.
SEC’s Twitter Account was Hacked through SIM Swapping
The Federal Bureau of Investigation (FBI) revealed on Thursday that a guy hasactually been jailed and charged with hijacking the Securities and Exchange Commission (SEC)’s Twitter (X) account. In January, he utilized the account to wrongly claim that the company had authorized Bitcoin ETFs, which triggered a unexpected spike in Bitcoin’s cost.
Eric Council Jr., a 25-year-old from Athens, Alabama, was jailed on Thursday. Authorities declare that he utilized a “SIM switching” strategy to take over a phone number, permitting him to gain unapproved gainaccessto to the SEC’s Twitter account. Following the incorrect statement, Bitcoin’s cost rose by over $1,000, however rapidly fell by $2,000 assoonas the claim was disproven.
U.S. Attorney Matthew Graves stated, “These SIM switching plans, where scammers technique service suppliers into offering them