Bitcoin Bamboozle: Alabama Man’s SEC Hack Causes Crypto Chaos!
Eric Council Jr., an Alabama man, pleaded guilty to hacking the SEC’s X (formerly Twitter) account, causing a Bitcoin value spike with a fake announcement. Using SIM swapping, he impersonated a federal agent to gain access, later receiving crypto as compensation. His guilty plea could land him a five-year sentence.
Hot Take:
When a hacker from Alabama turns the SEC into a Bitcoin pump-and-dump scheme, you know the cybercriminals are getting creative! Maybe next time they’ll hack the post office and announce free shipping for life!
Key Points:
- Eric Council Jr. from Alabama pleaded guilty to hacking the SEC’s X account.
- The hack falsely announced Bitcoin ETFs approval, causing a brief spike in Bitcoin’s value.
- Council used SIM swapping to gain unauthorized access to the account.
- He faces charges of conspiracy to commit identity theft and access device fraud, with a potential five-year sentence.
- The case highlights vulnerabilities in high-profile online accounts and the impact of misinformation on financial markets.
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