US man who hacked SEC’s X account to spike Bitcoin worth sentenced to jail

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Eric Council Jr., 26, was sentenced to 14 months in jail and three years of supervised launch on Friday for collaborating in the hack of the official X account of the U.S. Securities and Exchange Commission.

The U.S. Division of Justice introduced the sentencing in a press release. Council and different hackers took over the SEC’s X account in 2024 to falsely announce that the company had permitted Bitcoin trade traded funds, or ETFs, which shot up the worth of the cryptocurrency earlier than later dropping.

A screenshot of the fake SEC post published by hackers who took over control of the @SECGov X account on January 9, 2024.
A screenshot of the faux SEC put up printed by hackers who took over management of the @SECGov X account on January 9, 2024

In keeping with the DOJ, Council and his co-conspirators carried out a SIM swap assault in opposition to the cellphone account of an individual who had entry to the SEC’s X account, which allowed the hackers to take management of their cellphone quantity. From there, the hackers reset the password of the SEC’s X account, granting them management of the account. 



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