Published On Oct 18, 2024, 4:23 AM
Eric Council Jr., a 25-year-old from Alabama, has been arrested by the FBI for allegedly hacking into the SEC's social media account. He is charged with conspiracy to commit identity theft and access device fraud. The indictment claims he orchestrated a SIM swap attack to impersonate the SEC Chair, which led to the posting of a fake tweet that caused bitcoin's value to spike by $1,000.
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The incident raises significant concerns regarding cybersecurity and fraud in the cryptocurrency market. It may lead to increased scrutiny and regulation of Bitcoin and other digital currencies, which could create volatility.
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