A 26-year-old man from the state of Alabama 🇺🇸 named Eric Council Jr. was sentenced to 14 months in prison and 3 years of probation for hacking the SEC's X account and faking approval notices for Bitcoin ETF funds in early 2024.

Eric pleaded guilty to conspiracy to commit identity theft and access device fraud. He used a SIM swapping scheme to take control of the SEC's X account. The fake notice caused the price of Bitcoin to rise by over $1,000, then drop by more than $2,000 when the information was corrected.