Arrest Made In SEC X Account Hack Prior To Bitcoin ETF Approval, FBI Says Phone Used To 'Manipulate Financial Markets'

The FBI has arrested Eric Council Jr., a 25-year-old Alabama man, in connection with the January 2024 hack of the Security and Exchange Commission’s X account falsely stating Bitcoin ETFs were approved for trading that caused Bitcoin‘s (CRYPTO: BTC) value to spike by $1,000.

The ETFs were ultimately approved by the SEC the following day.

What Happened: According to a Thursday press release by the U.S. Attorney’s Office for the District of Columbia, Council is charged with conspiracy to commit aggravated identity theft and access device fraud. The indictment alleges that on Jan. 9, Council and his co-conspirators took unauthorized control of the @SECGov X account and posted a ...

Full story available on Benzinga.com