Bitcoin Bandit's Digital Trail: FBI's Shadow Looms

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SEC Hack: Fake Bitcoin Announcement Causes Market Surge

In a bizarre twist, a hack of the Securities and Exchange Commission's (SEC) social media account led to a surge in Bitcoin's value. The hackers posted a false claim that the SEC had approved Bitcoin for mainstream investment, causing the cryptocurrency to rise by $1,000.

Alleged Perpetrator's Suspicious Searches

Eric Council Jr., 25, of Athens, Georgia, has been arrested in connection with the hack. Court documents reveal that he searched for suspicious terms such as how to know if being investigated by the FBI and signs of being under investigation by law enforcement.

Fake ID and Sim Swap

Council Jr. allegedly created a fake ID using an SEC employee's details, which were provided by co-conspirators. He then used these details to transfer the employee's mobile number to a new Sim card, allowing co-conspirators to access the SEC's social media account.

SEC's Lack of Security

The SEC had previously disabled multi-factor authentication (MFA), a security measure that helps verify login attempts. This lack of protection made the account vulnerable to the Sim swap attack.

Charges and Consequences

Council Jr. faces charges of conspiracy to commit aggravated identity theft and access device fraud. The SEC has confirmed that its account was compromised and has since re-enabled MFA.