America's Social Casino

CoinDesk 2025-05-17 13:46:36

Alabama Man Sentenced for Hacking SEC’s Social Media to Post Fake Bitcoin ETF News

Alabama Man Sentenced for Hacking SEC’s Social Media to Post Fake Bitcoin ETF News

A 26-year-old man from Alabama has been sentenced to more than a year in prison for his role in a social media hack that briefly sent the price of bitcoin BTC soaring. Eric Council Jr. of Huntsville pleaded guilty to charges tied to the January 2024 hack of the U.S. Securities and Exchange Commission’s X account, according to a U.S. Department of Justice press release . Posing as a telecom customer using a fraudulent ID, Council used a SIM-swap technique to hijack a phone number tied to the SEC’s account. His co-conspirators then used it to falsely post that the agency had approved spot bitcoin exchange-traded funds (ETFs), a long-awaited regulatory milestone. Within minutes, the price of bitcoin surged by more than $1,000. It crashed soon after, losing more than $2,000 in value once the post was revealed as fake. The SEC did later that month approve the launch of spot bitcoin ETFs. Authorities say Council was paid in bitcoin for his role. He will serve 14 months in prison followed by three years of supervised release. Federal prosecutors called the attack a calculated attempt to manipulate financial markets. “The deliberate takeover of a federal agency’s official communications platform was a calculated criminal act meant to deceive the public and manipulate financial markets,” said Acting FBI Assistant Director Darren Cox. “By spreading false information to influence the markets, Council attempted to erode public trust and exploit the financial system”

가장 많이 읽은 뉴스

Cross-Chain Is No Longer Optional — Why Inter...
2025-05-19
Senate eyeing second vote on stablecoin bill...
2025-05-19
Dogecoin (DOGE) Reaches $0.218, But Experts S...
2025-05-19
Arthur Hayes Says The Real Altseason Everyone...
2025-05-19
(AFTER PUTIN – TRUMP TALK) RUSSIA READY TO WO...
2025-05-19
Can XRP Hit $3 This Week? Bulls Step In as $2...
2025-05-19
Tether’s $120B U.S. T-Bill Haul Tops Germany...
2025-05-19
Dow Jones posts modest gains as U.S. debt dow...
2025-05-19

관련뉴스

Best Crypto ICO 2025: Nexchain Leads Along With BT...
19 May 2025
Putin Affirms Trump’s Belief in Russian Support fo...
19 May 2025
SEC delays decision on 21Shares and Bitwise Solana...
19 May 2025
Large US Companies Witness Highest Number of Bankr...
19 May 2025
SP500 INDEX turned its daily candle green.
19 May 2025
Bitcoin Rises, Stocks Steady, is the Bull On?
19 May 2025

면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.