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Eric Council, Jr., a resident of Alabama, was apprehended on October 17 for allegedly being the notorious hacker responsible for the SEC SIM swap incident in January 2024 concerning spot Bitcoin ETFs.
Eric Council Jr. Detained For SEC SIM Swap Incident
As stated in a press release from the U.S. Attorney’s Office for the District of Columbia, the 25-year-old Council was taken into custody in his hometown of Athens, Alabama, facing charges of conspiracy to commit identity theft and access device fraud related to the January 9 breach that affected Bitcoin’s price.
DDC crypto indictment: Eric Council arrested this morning, in Alabama for Jan 2024 hack of SEC’s X account & posted a fake message from SEC Chair Gensler that caused the value of bitcoin (BTC) to spike by $1,000… pic.twitter.com/cZ5JJNyrHd
— Inner City Press (@innercitypress) October 17, 2024
The indictment reveals that Council and his unnamed accomplices managed to acquire “personal identifying information and an identification card template containing a victim’s name and photo,” which they utilized to create a counterfeit ID using his ID printer.
With the fraudulent ID in hand, Council procured a SIM card at a retail location in Huntsville, Alabama, where he ultimately bought a new iPhone with cash.
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Subsequently, Council accessed the official X account of the United States Securities and Exchange Commission (SEC), where his accomplices posted a deceptive announcement purportedly from the agency’s chairman, Gary Gensler, claiming that spot Bitcoin ETFs had received approval.
“Immediately after the tweet, the price of BTC surged by over $1,000 per bitcoin,” the press release noted.
Once the SEC regained control of its account and alerted the public about the breach, Bitcoin’s value plummeted by more than $2,000 per coin.
The alleged scammer reportedly received an undisclosed amount of Bitcoin for executing the successful SIM swap before traveling to Birmingham, Alabama, to return the newly acquired iPhone for cash.
After the incident, Council (who also used aliases such as Ronin, Easymummy, and AGiantSchnauzer) conducted several potentially incriminating online searches, including “How can I know for sure if I’m being investigated by the FBI?” “SECGOV hack,” and “telegram sim swap.”
“These SIM swapping schemes, where fraudsters deceive service providers into granting them control of unsuspecting victims’ phones, can lead to significant financial losses for victims and the exposure of sensitive personal and private information,” stated U.S. Attorney Graves. “In this case, the conspirators allegedly exploited their illegal access to a phone to manipulate financial markets. Through indictments like this, we will ensure that those who commit these serious offenses are held accountable.”
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