An Alabama man has been arrested for the unauthorized takeover of a U.S. Securities and Exchange Commission account in January 2024.
Hackers posted a fake message from the SEC chairman on the SEC account at X, formerly known as Twitter and banned in Russia, which caused the price of Bitcoin to skyrocket.
Information about this is posted on the website of the US Department of Justice .
The SEC regained control of their X account shortly after the hack.
Following this incident, the value of BTC dropped by more than $2,000 per bitcoin.
It was discovered that an unknown entity gained control of the SEC account through a SIM swap.
The indictment alleges that an Alabama resident illegally accessed an SEC account to falsely announce a listing of a bitcoin ETF on behalf of a company.
This single message caused the price of Bitcoin to spike by $1,000 and then plummet by $2,000.
