According to BlockBeats, on October 17, the US Department of Justice said that the FBI arrested an Alabama man for his involvement in the January 2024 hacking attack on the US Securities and Exchange Commission, which caused the price of Bitcoin to soar.

In January 2024, hackers posted fake news that the SEC would make an announcement about Bitcoin, causing the price of the cryptocurrency to surge. An SEC spokesperson confirmed to The Guardian that the unauthorized posts on the @SECGov account "were not drafted or created by the SEC."