Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13285
Markets: 101961
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13285
Cryptocurrencies
62.63%
Bitcoin Share
ZyCrypto 2025-05-17 16:00:33

Alabama Man Who Hacked SEC’s X Account To Pump Fake Bitcoin ETF Hype Slapped With 14-Month Prison Sentence

Alabama Man Who Hacked SEC’s X Account To Pump Fake Bitcoin ETF Hype Slapped With 14-Month Prison Sentence

An Alabama man who pumped the price of Bitcoin after hacking the X account of the U.S. Securities and Exchange Commission and falsely announcing the approval of spot BTC exchange-traded funds (ETFs) was sentenced on Friday to 14 months behind bars. The false X post sent the price of Bitcoin briefly surging at the time. SEC Hacker Jailed Eric Council Jr., a resident of Athens, Alabama, got unauthorized access to the SEC’s Twitter (aka X) account in early January 2024 and tweeted a bogus statement about the greenlighting of Bitcoin ETFs that briefly spiked the price of the bellwether crypto by over $1,000 within minutes. Prosecutors claimed that the 26-year-old conspired with others to take control of the account and post, “Today the SEC grants approval for Bitcoin ETFs for listing on all registered national securities exchanges.” Bitcoin, however, fell by over $2,000 shortly after former SEC chairman Gary Gensler confirmed that the tweet was false and that the agency’s account was compromised. Under a search warrant, the Federal Bureau of Investigation found a laptop where Council lived that contained internet searches for phrases like, “How can I know for sure if I am being investigated by the FBI?” and “What are some signs that the FBI is after you?” Ironically, the SEC ended up greenlighting the first batch of spot Bitcoin ETFs just a day after the hack, allowing the highly-awaited products to be traded in the United States. Council was eventually arrested in October 2024. In February, he pleaded guilty to one count of conspiracy to commit aggravated identity theft and access device fraud. In a statement, interim US Attorney for the District of Columbia Jeanine Ferris Pirro said Council’s actions hurt the integrity of the markets. Pirro was tapped by President Donald Trump last week to head that office in D.C. “Schemes of this nature threaten the health and integrity of our market system,” Pirro posited. “SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies. Don’t fool yourself into thinking you can’t be caught. You will be caught, prosecuted, and will pay the price for the damage your actions create.” In addition to Council’s prison term, he was ordered to forfeit $50,000 in proceeds from his offenses and will serve 36 months of supervised release, with restrictions on accessing the dark web and participating in identity-related crimes.

Most Read News

Moralis Money
Market Cap
24h Vol
62.63%
Bitcoin Share
405
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.