Eric Council Jr., 25, pleaded guilty to hacking the SEC’s X account in January 2024.
Using a SIM-swapping attack, he took control of the account and helped post a fake message claiming Bitcoin ETFs were approved, causing Bitcoin’s value to jump over $1,000.
Council, from Alabama, tricked AT&T into transferring a phone number linked to the SEC account by using a fake ID. His co-conspirators paid him in Bitcoin for his role.
After his arrest, investigators found he had searched for signs of being under FBI investigation. Council faces up to five years in prison, with sentencing set for May 16th.
If this article helped you, please consider supporting our work. Every small contribution keeps Abijita.com independent and running.
