“The Hack in January 2024 Briefly Sent Bitcoin’s Price Surging $ 1,000 Before Crashing Back Down Minutes Later.”, – WRITE: www.coindesk.com
soaring.
Eric Council Jr. of Huntsville Pleaded Guilty to Charges Tied to the January 2024 Hack of the US Securities and Exchange Commission’s X Account, Accounting To A USPARTMENT OF Justice Press Release.
POSING AS A Telecom Customer Using A Fraudent ID, Council Used A SIM-SWAP Technique to Hijack a Phone Number Tied to the Sec’s Access. His co-Conspirators THEN USED IT to FALSELY POST THAT The agency have Approved Spotcoin Exchange-Traded Funds (ETFS), A Long-Awaited Regulatory Miles Milestone.
Within Minutes, The Price of Bitcoin Surged by More Than $ 1,000. It Crashed Soon After, Lozing More Than $ 2,000 in Value Once The Post Was ReveAled As Fake. The Sec Did Later that MONTH APPROVE the LAUNCH OF SPOT BITCOIN ETFS.
Authoritities Say Council Was Paid in Bitcoin for His Role. He Will Serve 14 MONTHS IN PRISON Followed by Three Years of Supervised Release.
Federal ProseCutors Called The Attack a Calculated Attempt to Manipulate Financial Markets. “The Deliberate Takeover of A Federal Agency’s Office Communications Platformations Patform Was A Calculated Criminal Act Meant to Deceive The Public and Manipulate Finist Diarta. Darren Cox. “BY Spreading False Information to Influence The Markets, Council Attempted to Erode Public Trust and Exploit the Financial System”
