FBI Arrests Man Behind SEC Twitter Hack For Posting Fake Bitcoin ETF Approval

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An Alabama man orchestrated a SIM swap to illegally access and control the SEC's Twitter account. The fake Bitcoin ETF confirmation tweet caused a quick $1,000 spike and a $2,000 drop in Bitcoin price.

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The Federal Bureau of Investigation (FBI) has announced the arrest of Eric Council Jr. of Alabama in connection with the January 2024 unauthorized takeover of the US SEC's X (formerly known as Twitter) account. The hack led to false advertising about spot bitcoin ETFs, causing massive market disruption.

The FBI said Council and its affiliates used a SIM swap attack to take over the SEC's X account and posted a fraudulent message claiming the SEC approved Bitcoin ETFs. The false announcement caused the price of Bitcoin to increase by $1,000, but after the SEC corrected the misinformation, it fell by more than $2,000.

How did it happen?

According to the FBI, Council and its associates obtained personally identifiable information (PII) and a template of the victim's ID card to execute the SIM swap scheme. Council used this information to create a fake ID and present it to a cell phone carrier store in Huntsville, Alabama. This allowed him to find. brand new The SIM card is linked to the victim's phone number.

He bought the SIM card in his hand brand new He used it to access the iPhone and the victim's phone account. Then he got the access Important codes Log in to the “@SECGov” account. Once he He had to control it The account, Council shared the access codes with the conspirators, who then posted the scam message.

For his role in the hack, the Council received payment in Bitcoin. After the attack, he drove to Birmingham, Alabama to dispose of the iPhone he used to log into the SEC account.

The council went on to ask questions like “SECGOV hack”, “Telegram SIM swap”, “How can I know for sure if I'm being investigated by the FBI” and “What are the signs of being investigated by law enforcement?” Even if you don't contact law enforcement or the FBI them”

Council, who is charged with conspiracy to commit aggravated identity theft and instrument fraud, has his first court date today in the Northern District of Alabama.

This is a developing story.

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