The man had posted fake messages on the SEC’s X account, indicating in advance the approval of Bitcoin Spot ETFs. This had quickly increased the value of the queen of cryptocurrencies.

The FBI arrested a 25-year-old American on Thursday, October 17, suspected of hacking the X account (ex-Twitter) of the American stock market regulator (Securities and Exchange Commission or SEC). The man had published a false message announcing the approval of Bitcoin spot ETFs in January 2024, the Department of Justice (DOJ) said. This had caused the value of bitcoin to rise by $1,000 very quickly.

According to the indictment, Eric Council Jr. took control of the SEC’s X account on January 9 and posted a false message in the name of its chairman, Gary Gensler: “Today, the SEC grants approval to Bitcoin ETFs for listing on all registered national exchanges.”