FBI Arrests Alabama's Eric Council for SEC Hack and Fake Bitcoin ETF Announcement

Oct 17, 2024, 03:50 PM

The FBI has arrested 25-year-old Eric Council Jr. of Athens, Alabama, in connection with the January 2024 hacking of the U.S. Securities and Exchange Commission's X (formerly Twitter) account. Operating under the online aliases "AGiantSchnauzer" and "Easymunny," Council is accused of posting a fake announcement from the SEC Chair about the approval of a spot Bitcoin exchange-traded fund (ETF). The false post caused the price of Bitcoin to spike by $1,000. Prior to his arrest, Council reportedly searched online for signs of an FBI investigation. He has been charged with conspiracy to commit aggravated identity theft and access device fraud.