Eric Council Jr., age 26, received a 14-month prison sentence after being found guilty of hacking the U.S. Securities and Exchange Commission's X account. In 2024, Council and a group of hackers executed a SIM swap attack against an individual associated with the SEC, allowing them to take control of the account. They subsequently posted misleading information claiming that the SEC had approved Bitcoin exchange-traded funds (ETFs), leading to a spike in cryptocurrency prices. The Justice Department's announcement underscores the severity of cybercrimes and their impact on financial markets.
On Friday, Eric Council Jr. was sentenced to 14 months in prison for participating in a high-profile hack that deceived the public about SEC approvals for Bitcoin ETFs.
The scheme involved a sophisticated SIM swap attack, allowing Council and his co-conspirators to hijack the SEC's official X account and make false announcements.
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