SEC X Account Hacked, Hacker Sentenced to 14 Months in Prison

BlockBeats News, May 17th, this Friday, the hacker involved in the "SEC X Account Hacking Case" earlier this year was sentenced to 14 months in prison. The man, who in January of this year used an SEC account to falsely claim that the agency had approved a Bitcoin spot ETF (the real approval announcement was made by the SEC in less than 24 hours).

26-year-old Eric Council pleaded guilty in February to conspiring to commit identity theft. According to court documents, the compromised identity belonged to a U.S. Securities and Exchange Commission (SEC) employee referred to as "CL," who had access to the agency's X account. Council admitted to impersonating CL in order to take control of their phone number and, consequently, the SEC's X account. His accomplice eventually paid him $50,000 worth of Bitcoin and other cryptocurrencies.