#SECCryptoRegulation

*FBI Arrests Alabama Man for Hacking SEC's Twitter Account*In a significant development, the Federal Bureau of Investigation (FBI) has arrested a 25-year-old Alabama man, Eric Council Jr., for allegedly hacking the Securities and Exchange Commission's (SEC) Twitter account.According to reports, Council Jr. and his accomplices gained unauthorized control over the SEC's Twitter account in January 2024, posting a fake message announcing the approval of bitcoin ETFs. The tweet sent the bitcoin price soaring by $1,000, only to plummet by $2,000 after the SEC regained control of its account and dismissed the announcement as unauthorized.Council Jr. has been indicted on charges of conspiracy to commit aggravated identity theft and access device fraud. The investigation, led by the FBI's Cyber Division, highlights the growing concern over cyber threats to financial institutions and regulatory bodies."The FBI takes cyber-enabled crimes seriously and will continue to work tirelessly to bring perpetrators to justice," said an FBI spokesperson.The SEC has also issued a statement, emphasizing its commitment to protecting its systems and information from cyber threats.This incident serves as a reminder of the importance of robust cybersecurity measures and the need for vigilance in the digital age.

*Sources:*- FBI Press Release- SEC Statement- Reuters

*Related Tags:*- FBI- SEC- Cybersecurity- Hacking- Bitcoin- Cryptocurrency