FBI Arrests Alabama's Eric Council for Hacking SEC's X Account with Fake Bitcoin ETF Approval

An Alabama man, 25-year-old Eric Council Jr from Athens, was arrested by the FBI for allegedly hacking the Securities and Exchange Commission's (SEC) X account on January 9, 2024.

Council reportedly used a SIM swap attack to post a fake announcement from SEC Chair Gary Gensler about the approval of spot Bitcoin Exchange-Traded Funds (ETFs), causing Bitcoin's price to spike by $1,000. Operating under the online aliases "AGiantSchnauzer" and "Easymunny," he faces charges of conspiracy to commit aggravated identity theft and access device fraud, and could face up to five years in prison if convicted.

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