The FBI has announced the arrest of the main suspect involved in a hacking incident on the SEC’s X (Twitter) account back in January. Eric Council Jr., a resident of Alabama, has been indicted for conspiracy and theft.
In its statement, the FBI referenced co-conspirators who remain unnamed and has yet to make additional arrests.
FBI’s Crackdown on SIM Swapping
The FBI reported today the arrest of a suspect linked to the January SIM-swapping attack on the SEC X account. The hacker disseminated false information from the SEC’s official account, leading to a surge of $230 million in liquidations in the crypto market. Law enforcement identified 25-year-old Eric Council Jr. from Alabama as the key perpetrator of this incident:
“The indictment claims that Eric Council, Jr. illicitly accessed the SEC’s X account using the stolen identity of an individual with legitimate access. His accomplices allegedly exploited this unauthorized entry to falsely announce the SEC’s approval for Bitcoin ETF listings,” stated Principal Deputy Assistant Attorney General Argentieri.
The FBI stressed that SIM swapping schemes—where hackers deceive mobile service providers to compromise user security—are “serious offenses” that can result in “significant financial damage.” The Bureau aims to impose strict penalties on this hacker and others engaged in similar activities.
Read more: SIM Swap Attack: What It Is and How to Prevent It
Council faces charges of conspiracy to commit aggravated identity theft and access device fraud. Nevertheless, law enforcement has yet to apprehend any of his accomplices.
“[Council] later searched online for terms like ‘SECGOV hack,’ ‘telegram sim swap,’ ‘how can I know for sure if I am being investigated by the FBI,’ and ‘What are the signs that you are under investigation by law enforcement or the FBI even if you have not been contacted by them,’ as detailed in the announcement.
However, the evidence gathered against Council appears to be quite compelling. The FBI frequently encourages hackers to provide information on their peers, similar to the approach taken in the recent Bitfinex case.
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