Imagine someone pretending to be someone else to steal their stuff! That's what happened to the SEC's Twitter account. A hacker used a trick called a SIM swap to take control and posted fake news about Bitcoin.
- A man named Eric Council pleaded guilty to hacking the SEC's Twitter account.
- He used a SIM swap, which is like tricking your phone company to give your number to someone else.
- The hacker made a fake announcement that the SEC approved Bitcoin investments.
- Bitcoin's price jumped then fell after the truth came out.
| Thing | Number |
|---|---|
| Maximum prison sentence for Council | 5 years |
| Fine for Council | $250,000 |
| Bitcoin price increase after fake news | +$1000 |
| Bitcoin price decrease after correction | -$2000 |
This shows how important it is to protect your online accounts! Council got caught and will face serious consequences.
