TechFlow news, October 17 — According to the U.S. Department of Justice, 25-year-old Eric Council Jr. was arrested in Alabama for allegedly taking unauthorized control of the U.S. Securities and Exchange Commission (SEC)'s X account (formerly Twitter) in January 2024. He is accused of illegally accessing the account via a SIM swap attack and posting false information, which briefly caused Bitcoin's price to surge by $1,000. The SEC later regained control of the account, after which Bitcoin's price dropped by $2,000. Council is scheduled to make his initial court appearance today.
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