FBI arrests suspect in hacking of US SEC's account on platform X

FILE PHOTO: The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File Photo

WASHINGTON (Reuters) - An Alabama man was arrested on Thursday over criminal charges that he hacked the U.S. Securities and Exchange Commission's X account earlier this year, in an action that caused bitcoin's value to spike, federal prosecutors announced.

In January, a hacker posted false news about a widely anticipated announcement the SEC was expected to make about bitcoin, shocking the market and sending the cryptocurrency's price spiking. The post on @SECGov said the securities regulator had approved exchange-traded funds to hold bitcoin. The SEC deleted the post shortly after it appeared.