FBI Arrests Hacker Behind Fake Bitcoin ETF Approval News
18.10.2024 16:00 1 min. read Alexander Stefanov
The Federal Bureau of Investigation (FBI) arrested a 25-year-old man from Alabama, for hacking the official X account of the Securities and Exchange Commission (SEC) in January.
According to an Oct. 17 statement, Eric Concil Jr. was taken into custody following allegations of conspiracy to commit aggravated identity theft and access device fraud.
According to federal authorities, Concil is accused of being part of a group that hacked the SEC’s X account in January 2024 and posted a fake message on January 9 claiming that the SEC had approved the first exchange-traded fund (ETF) for Bitcoin in the United States.
The fake announcement helped the price of Bitcoin jump by over $1,000 after publication, causing further turmoil in the markets.
Nearly 15 minutes later, SEC Chairman Gary Gensler refuted the news, saying that the Commission had not approved the listing and trading of spot Bitcoin products traded on the Bitcoin exchange, adding that the regulator’s account had been compromised.
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