Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • 3 Top-Ranked Small-Cap Blend Mutual Funds Worth Buying
    • Aterian Raises New Funds to Support Mining Projects in Africa
    • Retirement funds vs property: Which is the better investment for your retirement?
    • BlackRock’s Tokenized ETFs Are Only The Beginning, CEO Says
    • Bonds rebound as government announces debt buyback
    • 3 Dividend-Paying ETFs to Double Down On Even if the S&P 500 Sells Off in October
    • Japanese bonds sink: ‘Widow-maker’ trade soars
    • Principal weighs rupiah swings for any return to Indonesia bonds
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»ETFs»FBI Arrests Hacker Linked to SEC Bitcoin ETF X hack
    ETFs

    FBI Arrests Hacker Linked to SEC Bitcoin ETF X hack

    October 17, 2024


    The Federal Bureau of Investigation (FBI) arrested a 25-year-old man from Athens, Alabama, in connection with a January hack of the U.S. Securities and Exchange Commission’s (SEC) official X account (formerly Twitter).

    According to a statement released on October 17, Eric Council Jr. was arrested on suspicion of conspiring to commit access device fraud and aggravated identity theft.

    Eric Council Jr. is accused of being part of a group that hacked the SEC’s X account in January 2024, posting a fraudulent message claiming the SEC had approved the first Bitcoin exchange-traded funds (ETFs). This false announcement caused Bitcoin’s price to spike by over $1,000, resulting in significant market disruption.

    SEC Chair Gary Gensler refuted the report almost fifteen minutes later, saying the regulator’s account had been compromised and that the commission had “not approved the listing and trading of spot bitcoin exchange-traded products.”

    Using a “SIM swap” attack, the group tricked a mobile service provider into transferring a victim’s phone number to the Council’s SIM card. This allowed them to bypass security measures and issue the false tweet. 

    U.S. Attorney Matthew Graves highlighted the dangers of SIM swapping schemes, where fraudsters gain control of victims’ phones, leading to significant financial losses and breaches of personal information.

    He emphasized, “Here, the conspirators allegedly used their illegal access to a phone to manipulate financial markets. Through indictments like this, we will hold accountable those who commit these serious crimes.”

    Council reportedly used online aliases, including “Ronin”, “Easymunny,” and “AGiantSchnauzer,” and created a fake identification card using personal information obtained from co-conspirators.

    He acquired a new iPhone and a SIM card linked to the victim’s phone line, which enabled him to access the SEC’s account and share the access codes with his accomplices. In exchange for his role in the operation, the Council received payment in Bitcoin.

    As part of the FBI investigation, Eric Council Jr. reportedly searched for information on the SEC hack, SIM swapping, and signs of being under FBI investigation.

    Authorities allege that he unlawfully accessed the SEC’s X account by using the stolen identity of an authorized individual to take control of their phone number. This access enabled him and his co-conspirators to post a fraudulent announcement that misled the public regarding the approval of Bitcoin ETFs.

    The investigation was conducted by multiple agencies, including the FBI’s Washington Field Office and the SEC’s Office of Inspector General.

    Following the fraudulent tweet, the SEC approved 11 Bitcoin ETFs the day after the incident, with these funds now managing over $63.5 billion in assets. Council is expected to make his initial court appearance in the Northern District of Alabama today.







    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    BlackRock’s Tokenized ETFs Are Only The Beginning, CEO Says

    October 20, 2025

    3 Dividend-Paying ETFs to Double Down On Even if the S&P 500 Sells Off in October

    October 20, 2025

    China ETFs See Outflows As Trump Comments Trigger Volatility

    October 20, 2025
    Leave A Reply Cancel Reply

    Top Posts

    The Shifting Landscape of Art Investment and the Rise of Accessibility: The London Art Exchange

    September 11, 2023

    Charlie Cobham: The Art Broker Extraordinaire Maximizing Returns for High Net Worth Clients

    February 12, 2024

    The Unyielding Resilience of the Art Market: A Historical and Contemporary Perspective

    November 19, 2023

    Retirement funds vs property: Which is the better investment for your retirement?

    October 20, 2025
    Don't Miss
    Mutual Funds

    3 Top-Ranked Small-Cap Blend Mutual Funds Worth Buying

    October 21, 2025

    Risk-loving investors, who give precedence to capital appreciation along with dividend payouts, may consider small-cap…

    Aterian Raises New Funds to Support Mining Projects in Africa

    October 20, 2025

    Retirement funds vs property: Which is the better investment for your retirement?

    October 20, 2025

    BlackRock’s Tokenized ETFs Are Only The Beginning, CEO Says

    October 20, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Voters approving Camas-Washougal area fire station bonds, levy lid lift

    August 7, 2024

    SEC Extends Review for Ethereum ETF Options

    October 14, 2024

    Hybrid mutual fund schemes’ inflow moderates in FY25; number of investors, AUM rise

    April 27, 2025
    Our Picks

    3 Top-Ranked Small-Cap Blend Mutual Funds Worth Buying

    October 21, 2025

    Aterian Raises New Funds to Support Mining Projects in Africa

    October 20, 2025

    Retirement funds vs property: Which is the better investment for your retirement?

    October 20, 2025
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    ₹10,000 monthly SIP in this mutual fund has grown to ₹1.52 crore in 22 years

    September 17, 2025
    © 2025 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.