Arrest and Charges
Eric Council Jr., a 25-year-old from , was arrested for his role in hacking the SEC's X account, allegedly to manipulate bitcoin prices. He faces charges of conspiracy to commit aggravated identity theft and access device fraud.
The hack occurred on January 9, when a false tweet was posted, claiming the SEC approved bitcoin ETFs, causing bitcoin's price to spike by over $1,000 before the SEC disavowed the post.
Method and Impact
Council used a "SIM swap" attack, fraudulently reassigning a victim's phone number to gain access to the SEC's X account. This involved impersonating the victim to obtain a new SIM card.
Following the hack, Council searched online for signs that he was being investigated by the , indicating awareness of the illegality and potential consequences of his actions.