Interesting SEC Account Hack: One Tweet and Bitcoin Crashed

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💰 SEC Account Hack: One Tweet and Bitcoin Crashed

- An Alabama resident pleaded guilty to hacking the U.S. Securities and Exchange Commission (SEC) account on social media site X

In January, 25-year-old Eric Council Jr. hacked the SEC account and posted a false statement about the imminent approval of cryptocurrency exchange-traded funds (ETFs), causing sharp fluctuations in the price of Bitcoin.

⚠️ The fake post caused a sharp jump in the price of Bitcoin by $1,000, but the price later plummeted by $2,000 when the head of the SEC announced that the account had been compromised and the message was fake.
 
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