FBI finds hacker who influenced the growth of bitcoin cryptocurrency

The FBI has arrested Eric Counsil, who is accused of hacking into the U.S. Securities and Exchange Commission (SEC) account on social network X in January. It is alleged that a tweet posted by Kaunsil from the SEC account caused the price of bitcoin to spike by more than $ 1000.

The indictment states that Kaunsil worked on hacking the account with accomplices. He posted the tweet on behalf of SEC Chairman Gary Gensler.

«Today, the SEC will approve the listing of #Bitcoin ETFs on all registered national securities exchanges,» the tweet stated. After the SEC discovered the hack and denied the information, the price of bitcoin fell by $ 2000.

The prosecution claims that Kaunsil came up with a simple scheme to realize this. To begin with, he created a fake ID using the stolen personal data of an employee who runs the SEC’s account at X. Then, using this document, he forced AT&T to provide him with a SIM card with the victim’s phone number and installed it in a new iPhone purchased specifically for this purpose. Later, using the authentication codes sent to the employee’s number, Kaunsil gained control of the account and posted the above tweet. He then returned the new smartphone to the Apple Store.

Investigators also found queries of interest in his PC’s search history, such as «SIM card swap,» «how do I know for sure if I’m under investigation by the FBI,» and «what are the signs that you are under investigation by law enforcement or the FBI, even if they haven’t contacted you.»

It is not reported what punishment Kaunsil faces.