🚨 Fake Bitcoin ETF News Lands Man in Jail
A U.S. federal court has sentenced Eric Council Jr. to 14 months in prison for spreading fake news about Bitcoin ETFs.
In January 2024, he was part of a group that hacked the SEC’s official X (Twitter) account and falsely announced the approval of spot Bitcoin ETFs, which misled the entire crypto market.
🔒 He made nearly $50,000 through SIM swap attacks and fake announcements.
⚖️ Prosecutors wanted a 2-year sentence, but the court gave him 14 months.
📉 The incident caused huge confusion in the crypto space and raised alarms about cybersecurity.
👉 This case shows how fake news can shake financial markets — and the serious consequences that follow.
