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Published

Man pleads guilty to role in SEC social media account hack that led the price of bitcoin to spike

  • An Alabama man, Eric Council Jr., pleaded guilty to hacking the U.S. Securities and Exchange Commission's X account, causing Bitcoin's value to temporarily rise by over $1,000.
  • Council's actions involved a fraudulent SIM swap and impersonation of a victim to gain access to the SEC's account.
  • After the SEC regained control, they confirmed the post was false, leading to a decline in Bitcoin's value by more than $2,000.
  • Council faces up to five years in federal prison, with sentencing scheduled for May 16, 2025, according to the Department of Justice.
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