Eric Council Jr, who hacked the SEC's X account in January last year, has been sentenced to 14 months in prison today. In addition to the prison time, Council must pay a fine of 50,000 USD and be supervised for three years after his release.
He was arrested in October 2024, and prosecutors proposed a deal shortly after. Council seemingly accepted in February, pleading guilty to conspiracy to commit serious identity theft.
What's Next for the SEC X Hacker?
In early 2024, rumors about Bitcoin ETF approval became a major wave. Therefore, when Council hacked the SEC's X account to claim it was approved, this caused market chaos.
Bitcoin increased by over 1,000 USD immediately after, and the hunt for Council began. Today, the final story has ended.
The US Attorney's Office announced that Council was sentenced for the famous SEC hack. Court documents show he used SIM Swap to access a phone with X account access.
Council continued using similar fraud tactics until the FBI identified him in August, leading to his arrest in October 2024.
"Such conspiracies threaten the health and integrity of our market system. SIM swap conspiracies threaten the financial security of ordinary citizens, financial institutions, and government agencies. Don't fool yourself that you won't be caught. You will be caught, prosecuted, and will pay the price," stated US Attorney Jeanine Ferris Pirro.
Interestingly, government prosecutors repeatedly accused Eric Council of having multiple accomplices in the SEC hack. However, none of them have been named, arrested, or charged.
The government proposed a plea deal with Council immediately after his arrest, on the condition that he name these individuals. He pleaded guilty to conspiracy in February, possibly indicating he actually cooperated.
It seems somewhat strange that there has been no progress in this broader investigation over the past three months.
However, Council has faced personal justice for his role in the SEC hack. He was sentenced to pay a 50,000 USD fine and serve 14 months in prison.
After his release, he will be supervised by police for the next three years, ensuring he does not access the Dark Web or commit identity fraud.
