Bitcoin

Man Pleads Guilty to Hacking Official SEC X Account and Falsely Claiming Regulator Had Approved Bitcoin ETFs

Published

7 months ago

February 12, 2025

A person from Alabama has promised to hacking the American Securities and Trade Commissions (SEC) X account final yr and is in jail for 5 years.

In January 2024, Eric Council Jr., 25, collaborated with others to order the X account of the SEC and to announce the approval of Spot Bitcoin (BTC) Trade-Traded Funds (ETF) within the US, in response to the Ministry of Justice (Doj).

The pretend -ATF announcement ensured that the worth of Bitcoin elevated by greater than $ 1,000 after which fell by greater than $ 2,000 after the SEC regained his X account and acknowledged that the assertion was not approved and the results of an infringement on The safety. The Bitcoin ETFs regulator for the regulator rightly after the safety incident.

The DOJ claims that the Council carried out the hack through an unauthorized SIM -Wap, the place a cellular phone provider is fraudulently persuaded to re -assign the contact variety of one other to a SIM card that’s managed by a foul actor.

The Council was paid in Bitcoin to make use of the stolen id of an individual who had entry to the X account of the SEC, after which the Doj claims that his fellow samensmen have made the fraudulent perform.

The Alabama man promised responsible to conspire for aggravated id theft and entry furnishing fraud and is deliberate to be convicted in Could. He’s confronted with a most of 5 years in jail.

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