Arrests made following hacking of US agency’s social media account

The FBI has made an arrest in the state of Alabama in connection with the hacking of the Securities and Exchange Commission’s (SEC) social media account X in January, the Department of Justice announced Thursday.

“According to court documents, on or about January 9, Eric Council Jr., 25, of Athens, allegedly conspired with others to gain unauthorized control of the SEC’s X account and, on behalf of the SEC Chairman , Gary Gensler, reportedly prematurely announced the approval of Bitcoin exchange-traded funds,” he said in a statement.

Following the Council’s announcement, the price of Bitcoin increased by more than $1,000 and after the unauthorized release, the SEC took back control and declared that the announcement was unauthorized, result of a security breach.

After the corrective disclosure, the value of Bitcoin, the world’s largest cryptocurrency, declined by more than $2,000.

“The conspirators gained control of SEC Account

He said a federal grand jury in Washington, D.C., returned an indictment on October 10 charging the Council with one count of conspiracy to commit aggravated identity theft and device fraud. ‘access.

Council faces a maximum sentence of five years in prison if convicted.