Hacker Arrested for Posting Fake SEC Tweet That Caused Bitcoin Price Surge! 💰

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Summary:

  1. Arrest by the FBI
    The FBI has arrested Eric Council Jr., a 25-year-old from Alabama, for allegedly hacking the Securities and Exchange Commission (SEC)'s X account.

  2. Fake Tweet Details
    Council is accused of collaborating with others to post a fake message from SEC Chair Gary Gensler about Bitcoin ETFs, leading to a temporary price spike of over $1,000.

  3. SIM Swap Technique
    To execute the scheme, Council allegedly created a fake ID using the personal information of the SEC account holder and tricked AT&T into issuing a SIM card linked to the victim’s phone number.

  4. Gaining Account Access
    Using the new SIM card, he was able to receive recovery codes and gain access to the SEC’s account, after which he returned the purchased iPhone to the Apple Store.

  5. Impact of the Incident
    This case underscores the vulnerabilities in social media security and the potential for significant market manipulation through deceptive practices.

Read more at: The Verge

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