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A 25-year-old man from Alabama faces charges for hacking the SEC‘s X account on January 9 and attempting identity theft. The attacker falsely announced the approval of Bitcoin 
$104,916 ETFs, leading to a sudden spike in Bitcoin prices.
Accessing 2FA Codes Through SIM Swap Fraud
The FBI has identified the perpetrator as Eric Council Jr. This individual gained access to another person’s phone number using the SIM swap method and intercepted the SEC’s two-factor authentication (2FA) codes.
Facing Charges of Aggravated Identity Theft
An investigation by the FBI revealed suspicious internet searches on Eric Council Jr.’s computer. Among these searches were queries like “How can I find out if I am being investigated by the FBI?”
The fraudulent tweet shared by the attacker announced the approval of Bitcoin ETFs, stating, “Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.” This message caused Bitcoin’s price to increase by over $1,000 within hours. The tweet was quickly deleted, and the SEC account was reclaimed.
This type of SIM swap fraud relies on tricking service providers into transferring victims’ phone numbers, leading to significant financial losses and the exposure of personal information.
U.S. Attorney Matthew Graves: “Digital Security Measures Are Essential”
Eric Council Jr. will be prosecuted for aggravated identity theft and device access fraud. This incident highlights the importance of digital security measures, emphasizing the use of strong passwords and two-factor authentication by users to protect their accounts.
In conclusion, the incident involving an Alabama man hacking the SEC’s X account resulted in a brief disruption in the cryptocurrency market.
