25-year-old Eric Council Jr. from Alabama is charged with hacking the SEC's account and attempting identity theft. The attacker falsely announced the approval of Bitcoin ETFs, causing a sudden rise in Bitcoin prices.

Accessing 2FA Codes Through SIM Swap Fraud

The FBI identified the perpetrator as Eric Council Jr. He accessed another person's phone number using the SIM swap method, intercepting the SEC's two-factor authentication (2FA) codes.

Facing Charges of Aggravated Identity Theft

The FBI investigation revealed suspicious internet searches on Eric Council Jr.'s computer. Among these were searches like 'How can I find out if I am being investigated by the FBI?' The fraudulent tweet announced Bitcoin ETF approval, causing Bitcoin's price to rise by over $1,000 within hours. The tweet was quickly deleted, and the SEC account was reclaimed. This type of SIM swap fraud tricks service providers into transferring victims' phone numbers, leading to significant financial losses and exposure of personal information.

U.S. Attorney Matthew Graves' Statement

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.

The incident involving an Alabama man hacking the SEC's account resulted in a brief disruption in the cryptocurrency market, underscoring the importance of adhering to digital security measures.