An Alabama man is accused of helping to break into the SEC's account on X, allowing hackers to prematurely announce the approval of long-awaited bitcoin exchange-traded funds.
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An Alabama man was arrested Thursday for his alleged role in the January hack of a U.S. Securities and Exchange Commission social media account that led the price ofThe price of bitcoin briefly spiked more than $1,000 after the post claimed “The SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.”
But soon after the initial post appeared, SEC Chairman Gary Gensler said on his personal account that the SEC’s account was compromised. “The SEC has not approved the listing and trading of spot bitcoin exchange-traded products,” Gensler wrote, calling the post unauthorized without providing further explanation.
An email seeking comment was sent Thursday to an attorney for Council, who is charged in Washington’s federal court with conspiracy to commit aggravated identity theft and access device fraud.The price of bitcoin swung from about $46,730 to just below $48,000 after the unauthorized post hit on Jan. 9 and then dropped to around $45,200 after the SEC’s denial.
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