ATHENS, Ala. — Eric Council Jr., a 25-year-old from Athens, Alabama, is at the center of a high-stakes hacking operation involving the U.S. Securities and Exchange Commission (SEC). Council was arrested by the FBI for allegedly hacking the SEC’s X (formerly Twitter) account in January, falsely claiming the agency had approved the first Bitcoin ETF. The false post sent Bitcoin prices soaring by $1,000 before plummeting once the truth came out.
Council, using a method known as “SIM swapping,” took control of a victim’s phone number to access the SEC account. The scheme was orchestrated from Huntsville, where Council obtained a new SIM card, using stolen identities to execute the plan.
Charged with conspiracy to commit aggravated identity theft and access device fraud, Council’s bold operation briefly rocked the financial world. Investigators say the hacker received payment in Bitcoin for his efforts and returned the iPhone used in the crime for cash in Birmingham. Authorities note Council even searched online for signs of being under investigation.