Eric Council Jr. was indicted for his involvement in a SIM swap that allowed him to gain unauthorized access to the SEC X Twitter account. This hack led to a fraudulent post claiming Bitcoin ETFs had been approved, significantly impacting Bitcoin’s market price by causing it to jump by $1,000. Council's actions demonstrate a deliberate strategy to manipulate securities markets through digital deception.
Authorities detailed how Council conspired with others to execute a SIM swap to illegally acquire access to the SEC X account. Using a fabricated identity, he deceived AT&T into issuing a new SIM card tied to an account he did not own, showcasing the lengths to which he went to exploit the system for malicious gain.
Investigators traced Council's activities through his own digital footprint, revealing alarming queries. His searches about the SEC hack and inquiry into FBI investigation signs illustrated a conscious awareness of the legal dangers he was courting with his cybercriminal actions.
The indictment also highlights Council's methodical approach—his use of a fake ID to pose as an FBI agent and his subsequent return of the phone for cash underscores the premeditation involved. This incident serves as a cautionary tale about cybersecurity threats posed by social engineering tactics like SIM swapping.
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