Fed Arrests Man Suspected of Hacking X’s SEC Account, Boosts Bitcoin Price

Authorities announced Thursday the arrest of a man in Alabama, accusing him of participating in the hacking of the US Securities and Exchange Commission X account earlier this year.

Eric Council Jr. was charged in connection with the hacking of the SEC X account, which occurred on January 9, when the account published a post falsely claiming that the Commission had approved Bitcoin ETFs to be listed as securities in the country, the post added. The price of Bitcoin by $1,000, according to the media of the US Attorney’s Office in the District of Columbia.

According to the indictment against the Council, he worked with other unnamed accomplices to carry out a SIM swap on the phone account of a person who had access to the SEC X account, identified only as “CL”. Authorities alleged that Council received payments for conducting SIM swaps, such as the one that led to the SEC X account hack.

On January 9th, one of the co-conspirators sent the Council instructions on how to change the phone SIM of a person who has access to an SEC account in X, as well as personally identifiable information. Council then went to an AT&T store with a fake CL ID that he personally designed and printed, and claimed to be an FBI agent who had hacked his phone and needed a new SIM card.

The Council bought a new iPhone to do a SIM swap, then used the phone to get a reset code for the @SECGov account on X, and sent this code to an associate who logged into the @SECGov account and sent the fake post question, the case claims. At that time, Council returned the iPhone to Birmingham, Alabama, the indictment said.

Prosecutors wrote in the indictment that Council conducted numerous Google searches, such as: “SECGOV hack,” “telegraph sim swap,” “how do I know I’m being investigated by the FBI,” and “What are the signs you’re being investigated by law enforcement or the FBI even if you have never been touched by them,” and “what are some of the signs that the FBI is after you.”

Council was charged with conspiracy to commit identity theft and access device fraud.