Home Business Hacker Who Compromised SEC Twitter Account Sentenced to 14 Months in Prison

Hacker Who Compromised SEC Twitter Account Sentenced to 14 Months in Prison

Hacker Who Compromised SEC Twitter Account Sentenced to 14 Months in Prison

A 26-year-old Alabama man was sentenced to 14 months in prison for hacking into the Securities and Exchange Commission’s (SEC) X account. Eric Council Jr. used a technique called “SIM swapping” to gain control of the account. This allowed him to post a fake message saying the SEC had approved Bitcoin exchange-traded funds (ETFs). The false post caused Bitcoin’s price to surge by over $1,000.

The Hacking Incident

The SEC’s X account was compromised in January 2024, just before the official approval of Bitcoin ETFs. The fake post read, “Today, the SEC approves

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