FBI Arrests Alabama Man for SEC X Account Hack That Manipulated Bitcoin Prices

Eric Council Jr. allegedly used a SIM swap to post a fake Bitcoin ETF approval, causing a temporary spike in Bitcoin's value.

Eric Council Jr., 25, was arrested for allegedly hacking the SEC's X account and posting a false Bitcoin ETF approval message.
The unauthorized post caused Bitcoin's price to rise by over $1,000 before plummeting by $2,000 after the SEC clarified the breach.
Council is accused of using a SIM swap technique to gain access to the SEC's account by impersonating an authorized user.
He faces charges of conspiracy to commit aggravated identity theft and access device fraud, with a potential five-year prison sentence.
The incident has reignited concerns about security vulnerabilities on social media platforms, particularly for high-profile accounts.