According to TechFlow, on October 17, the U.S. Department of Justice reported that 25-year-old Eric Council Jr. was arrested in Alabama for allegedly taking over the X account of the U.S. Securities and Exchange Commission (SEC) (formerly known as Twitter) without authorization in January 2024. He was accused of illegally accessing the account through SIM card swaps and posting false messages, causing the price of Bitcoin to briefly rise by $1,000. The SEC subsequently restored control of the account and the price of Bitcoin fell by $2,000. Council will appear in court for the first time today.