According to the U.S. Department of Justice announcement, Eric Council Jr., an Alabama man, was sentenced to 14 months in prison and 3 years of supervised release for participating in a SIM card swap and hijacking the SEC's official X account to post a false Bitcoin ETF approval message. The false message temporarily pushed BTC prices up by over $1,000 before quickly dropping more than $2,000. Council gained control of the SEC account through a SIM card swap and forged identity information, and was compensated with BTC as a result.
US man sentenced for hijacking SEC X account to publish fake BTC ETF approval news
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