"US Arrest Man for SEC X Account Hack"

According to the Department of Justice (DoJ), a man has been arrested on charges related to hacking the US Securities and Exchange Commission's (SEC) X account in January 2024, resulting in a Bitcoin price spike.  The DoJ noted that the individual, Eric Council Jr, aged 25, from Alabama, allegedly conspired with others to take unauthorized control of the SEC's X account, posting a fake announcement that the agency had approved Bitcoin Exchange Traded Funds.  The false post on January 9, made in the name of SEC Chair Gary Gensler, resulted in the price of Bitcoin surging by more than $1000 per coin.  After gaining back access to the account and following a corrective disclosure by the SEC, the value of Bitcoin decreased by more than $2000 per coin.  Council has been charged with one count of conspiracy to commit aggravated identity theft and access device fraud.  If convicted, he faces a maximum penalty of five years in prison.

Infosecurity Magazine reports: "US Arrest Man for SEC X Account Hack"