Bitcoins <\/p>\n
The FBI has arrested an Alabama man who allegedly hacked the U.S. Securities and Exchange Commission\u2019s X (formerly Twitter) account in order to post erroneous information about Bitcoin that briefly drove the price of the cryptocurrency up by $1,000.<\/p>\n
The U.S. Attorney\u2019s Office for the District of Columbia says Eric Council Jr. received personally identifying information and an ID template from co-conspirators that allowed him to make a fake ID card for someone with access to the SEC\u2019s X account. He allegedly then used that ID card at a cell phone store in Huntsville, Alabama to obtain an iPhone with a SIM card linked to the victim\u2019s phone number.<\/p>\n
Using the spoofed phone, Council allegedly helped co-conspirators log in to the SEC\u2019s X account, from which they posted a tweet<\/a> falsely claiming that \u201cToday the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.\u201d In exchange for his help, Council allegedly received payment in Bitcoin.<\/p>\n The 25-year-old\u2019s alleged actions in the days after the attack suggest he was not exactly a criminal mastermind. The U.S. Attorney\u2019s Office said Council\u00a0conducted a series of suspicious internet searches, for phrases like \u201cSECGOV hack,\u201d \u201ctelegram swap,\u201d \u201chow can I know for sure if I am being investigated by the FBI,\u201d and \u201cWhat are the signs you are under investigation by law enforcement or the FBI even if you have not been contacted by them.\u201d<\/p>\n The January 9 hack spiked the value of Bitcoin for a short time before SEC Chairman Gary Gensler posted from his own account that the information was false, after which the price of Bitcoin dropped by $2,000.<\/p>\n