FBI Arrests Eric Council for SEC X Account Hack Causing $1,000 Bitcoin Spike

Oct 17, 2024, 03:56 PM

The FBI has arrested a 25-year-old Alabama man, Eric Council Jr., in connection with the January 2024 hacking of the U.S. Securities and Exchange Commission's (SEC) X (formerly Twitter) account. Council, who operated under the online aliases 'AGiantSchnauzer' and 'Easymunny,' allegedly took over the SEC's account and posted a fraudulent message purportedly from SEC Chair Gary Gensler, announcing the approval of a spot Bitcoin exchange-traded fund (ETF). The fake announcement caused Bitcoin's value to spike by $1,000. Following the incident, Council reportedly searched online for "What are the signs that you are under investigation by law enforcement or the FBI even if you have not been contacted by them." He faces charges of conspiracy to commit aggravated identity theft and access device fraud. The arrest was made in Athens, Alabama, and the Department of Justice announced the charges.