FBI arrests hacker behind SEC fake Bitcoin ETF approval

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As a seasoned analyst with over two decades of experience in financial markets, I must say this incident is a stark reminder of the power and peril that technology can bring to our world. The audacity of Eric Council Jr., a 25-year-old from Athens, Alabama, to manipulate such a significant market by hacking the SEC’s official account is nothing short of astounding.

As a crypto enthusiast hailing from Athens, Alabama, I found myself in hot water after being apprehended by the esteemed Federal Bureau of Investigation (FBI) in January. The allegations against me are quite serious, involving an alleged hack on the Securities and Exchange Commission’s (SEC) official X account. I’m now navigating through this challenging situation, seeking to clarify my role in these events.

Based on a statement issued on October 17th, Eric Council Jr. was apprehended due to accusations of conspiring to commit aggravated identity theft and unauthorized use of credit cards.

Federal authorities allege that Council is implicated in a team responsible for hacking the Securities and Exchange Commission’s (SEC) X account in January 2024, where they published a false message on January 9th stating that the SEC had authorized the first Bitcoin exchange-traded funds (ETF) in the United States.

The fake announcement led Bitcoin’s price to spike by over $1,000 following the tweet, leading to further shockwaves in markets. 

Approximately 15 minutes past, SEC Chairman Gary Gensler refuted the reports, stating that the commission had not authorized the listing and trading of spot Bitcoin ETPs. He further explained that the regulator’s account seemed to have been hacked.

This is a developing story, and further information will be added as it becomes available.

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2024-10-17 19:12