Success in the SEC hacking case: FBI arrests suspect

The recently uncovered case of a hacking attack on the account of the U.S. Securities and Exchange Commission (SEC) on the platform X, formerly known as Twitter, has led to new developments. A 25-year-old man from Alabama, named Eric Council Jr., was arrested by FBI agents. According to the U.S. Department of Justice, the young man is suspected of having committed intentional identity theft. At the center of the investigation is the unauthorized intrusion into the official SEC account in January. This occurred immediately prior to the planned announcement of the approval for trading Bitcoin index funds by the SEC. The accused is alleged to have used personal information of an unspecified victim and an iPhone to bypass the account's security measures. He is also accused of impersonating an FBI agent. The hack resulted in a brief but significant fluctuation in Bitcoin prices. A fake entry on the SEC account announced the approval of several Bitcoin products, causing the Bitcoin price to rise by $1,000. Once the entry was exposed as a forgery and control over the account was regained, the price fell by $2,000. So far, the SEC has not made any official statements regarding the incidents, and the case, being tried under the name "US v. Council" in the U.S. District Court in Washington D.C., remains of interest.