A 25-year-old hacker pleaded guilty to spoofing the SEC’s social media to falsely announce bitcoin ETF approval.

Eric Council Jr., a 25-year-old from Alabama, has pleaded guilty to hacking the U.S. Securities and Exchange Commission’s social media account in January 2024. The hack involved a "SIM swap" that allowed Council and co-conspirators to falsely announce the approval of bitcoin ETFs, causing the price of bitcoin to spike by over $1,000. Council received about $50,000 in bitcoin for his role. He faces up to five years in prison and sentencing is set for May.

6 weeks ago
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