A hacker who tricked people into thinking the SEC had approved Bitcoin ETFs is facing a plea deal.
The Fake News Tweet
In January, the hacker took control of the SEC’s Twitter account and posted a fake announcement claiming the agency had approved Bitcoin ETFs. This caused a huge spike in cryptocurrency prices. The SEC quickly removed the post and called it a hoax.
The Hacker’s Arrest
The FBI tracked down the hacker, Eric Council Jr., in Alabama. He was arrested for “SIM-swapping,” which is a technique where hackers take over someone’s phone.
The Impact of the Fake News
The government says the fake tweet had a big impact on Bitcoin’s price. It jumped $1,000 right after the tweet was posted. This happened just before the SEC was actually going to announce its decision on Bitcoin ETFs, which made the whole thing even more impactful.
The Plea Deal
The government has offered Council a plea deal, but it’s not clear if he’ll accept it. He’s facing charges like conspiracy to commit identity theft and fraud. He’s also accused of getting paid in Bitcoin for the hack.
