On May 17th, this Friday, the hacker involved in the "SEC X Account Theft Case" from early this year was sentenced to 14 months in prison. The man used the SEC account in January to falsely claim that the institution had approved a spot Bitcoin ETF (with the SEC releasing the actual approval notice in less than 24 hours).
26-year-old Eric Council pleaded guilty to conspiracy to commit identity theft in February this year. According to court documents, the stolen identity belonged to a Securities and Exchange Commission (SEC) employee named "CL", who had the authority to access the agency's X account. Council admitted to impersonating CL to gain control of their phone number, and subsequently control the SEC's X account. His accomplice ultimately paid him 50,000 dollars worth of Bitcoin and other cryptocurrencies.
