A hacker from the U.S. SEC was sentenced to 14 months in prison for spreading false information about a Bitcoin ETF.

2025-05-17 10:51:45

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[The SEC Hacker Sentenced to 14 Months in Prison for Spreading False Bitcoin ETF News] A federal judge sentenced Eric Council Jr. to 14 months in prison for participating in the release of false announcements regarding the approval of a Spot Bitcoin ETF on the SEC’s X account. After a hearing held on May 16 by the federal court in the District of Columbia, the Department of Justice announced that Council pleaded guilty to “conspiring to commit aggravated identity theft and access device fraud” and will be sentenced to 14 months in prison. “Such actions threaten the health and integrity of our market system,” said Jeanine Pirro, the acting U.S. Attorney for the District of Columbia. “SIM card swapping attacks pose a financial security threat to ordinary citizens, financial institutions, and government agencies.” The lawsuit documents show that the Council gained approximately $50,000 through a SIM card swap attack, which is expected to be recovered. In addition, the judge sentenced him to 36 months of supervised release after serving his prison term.

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