• About
  • Landing Page
  • Buy JNews
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS
No Result
View All Result
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse
No Result
View All Result

Jan 2024 SEC’s X account hacker got 14 months in prison for cyber fraud

SB Crypto Guru News by SB Crypto Guru News
May 18, 2025
in Scam Alert
0 0
0
Jan 2024 SEC’s X account hacker got 14 months in prison for cyber fraud



Jan 2024 SEC’s X account hacker got 14 months in prison for cyber fraud

Eric Council Jr. was sentenced to 14 months’ imprisonment for his role in the Jan. 9, 2024, hack of the U.S. Securities and Exchange Commission’s (SEC’s) X account. The convicted, along with co-conspirators, posted false news of the SEC approving the first Bitcoin (BTC) exchange-traded fund in the U.S.

In a press release on May 16, 2025, the U.S. Department of Justice (DOJ) stated that Council Jr. will also be subjected to three years of supervised release, a form of parole.

The 26-year-old from Huntsville, Alabama, had pleaded guilty to conspiracy to commit aggravated identity theft and access device fraud in February. He was arrested by the Federal Bureau of Investigation (FBI) agents in October last year.

What Council Jr. did

On Aug. 29, 2023, the District of Columbia Court of Appeals in Washington ruled that the SEC was wrong to reject Grayscale’s spot BTC ETF application without proper cause. The court’s decision meant that the SEC would review Grayscale’s application, which it had rejected several times.

The court win raised optimism, and the crypto industry was highly anticipating the SEC to approve the first spot Bitcoin ETF any day. Council Jr. and his accomplices took advantage of the market sentiment and announced a fake approval from the SEC’s genuine X account.

Court documents indicate that Council Jr. conspired to hack the SEC’s X official account and post fake news of spot BTC ETF approval to manipulate the price of BTC. His role was to carry out a Subscriber Identity Module (SIM) swap, where a bad actor convinces the mobile carrier to port a victim’s phone number to a SIM card controlled by them.

According to the DOJ, Council Jr. used an ID card printer to produce fake IDs of victims, whose personal data was supplied to him by co-conspirators. He then used the fake IDs to gain access to the victim’s number to access the SEC’s X account and post the fake news. Council Jr. received payment in BTC for his role in the SEC’s X account hack.

The damage Council Jr. contributed to

Immediately after the posting of the fake news, the price of each BTC increased by more than $1,000. But after the SEC chair, Gary Gensler, acknowledged the hack and dismissed the message of hackers as fake, the BTC price crashed by over $2,000 per BTC, CryptoSlate data shows.

BTC price rose to $48,000 after the fake news was posted, but crashed to $45,000 after Gensler’s refutation. Around $50 billion was wiped off Bitcoin’s market capitalization in the 24 hours following the posting of the fake news. The price fluctuation also caused a total of $220 million in liquidations.

FBI Criminal Investigative Division Acting Assistant Director Darren Cox called hack “a calculated criminal act meant to deceive the public and manipulate financial markets.” He added:

“By spreading false information to influence the markets, Council [Jr.] attempted to erode public trust and exploit the financial system.”

Mentioned in this article
Latest Alpha Market Report



Source link

Tags: accountBitcoin NewsCrypto NewsCrypto UpdatesCyberfraudHackerJanLatest News on CryptoMonthsPrisonSB Crypto Guru NewsSECs
Previous Post

Pump.fun Leads Revenue Surge as Solana Has Best Quarter in 12 Months

Next Post

Robert Kiyosaki’s Bitcoin Advice: ‘Buy More, Do Not Sell’—BTC to Hit $250K This Year

Next Post
Robert Kiyosaki’s Bitcoin Advice: ‘Buy More, Do Not Sell’—BTC to Hit 0K This Year

Robert Kiyosaki’s Bitcoin Advice: ‘Buy More, Do Not Sell’—BTC to Hit $250K This Year

  • Trending
  • Comments
  • Latest
The Metaverse is Coming Back! – According to Meta

The Metaverse is Coming Back! – According to Meta

February 7, 2025
How to Get Token Prices with an RPC Node – Moralis Web3

How to Get Token Prices with an RPC Node – Moralis Web3

September 3, 2024
AI & Immersive Learning: Accelerating Skill Development with AI and XR

AI & Immersive Learning: Accelerating Skill Development with AI and XR

June 4, 2025
5 Proven XR and AI Training Use Cases for Enterprises

5 Proven XR and AI Training Use Cases for Enterprises

June 2, 2025
Meta Pumps a Further  Million into Horizon Metaverse

Meta Pumps a Further $50 Million into Horizon Metaverse

February 24, 2025
Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

Samsung Unveils ‘Moohan’ to Compete with Quest, Vision Pro

January 29, 2025
Big Beautiful Bill Passed Without Crypto Tax Exemption but Hope’s Not Lost

Big Beautiful Bill Passed Without Crypto Tax Exemption but Hope’s Not Lost

0
Hobbs Rejects New Attempt to Use Seized Crypto in Arizona

Hobbs Rejects New Attempt to Use Seized Crypto in Arizona

0
Crossmint and Visa Join Forces to Power AI-Driven Commerce

Crossmint and Visa Join Forces to Power AI-Driven Commerce

0
Why Your Finance Team Needs an AI Strategy, Now

Why Your Finance Team Needs an AI Strategy, Now

0
Senate Battles President Trump’s Spending Bill

Senate Battles President Trump’s Spending Bill

0
The Azuki NFT Team Launches An Anime Studio – Here’s More Info

The Azuki NFT Team Launches An Anime Studio – Here’s More Info

0
Big Beautiful Bill Passed Without Crypto Tax Exemption but Hope’s Not Lost

Big Beautiful Bill Passed Without Crypto Tax Exemption but Hope’s Not Lost

July 2, 2025
Hobbs Rejects New Attempt to Use Seized Crypto in Arizona

Hobbs Rejects New Attempt to Use Seized Crypto in Arizona

July 2, 2025
Crossmint and Visa Join Forces to Power AI-Driven Commerce

Crossmint and Visa Join Forces to Power AI-Driven Commerce

July 2, 2025
Dogecoin Enters Distribution Phase After Crash Below alt=

Dogecoin Enters Distribution Phase After Crash Below $0.15, Next Steps Revealed

July 2, 2025
BTC risks dropping to 0k as it slips below key support levels

BTC risks dropping to $100k as it slips below key support levels

July 2, 2025
SEC Clears Grayscale Digital Large Cap Fund for NYSE Arca ETF Listing

SEC Clears Grayscale Digital Large Cap Fund for NYSE Arca ETF Listing

July 2, 2025
SB Crypto Guru News- latest crypto news, NFTs, DEFI, Web3, Metaverse

Find the latest Bitcoin, Ethereum, blockchain, crypto, Business, Fintech News, interviews, and price analysis at SB Crypto Guru News.

CATEGORIES

  • Altcoin
  • Analysis
  • Bitcoin
  • Blockchain
  • Crypto Exchanges
  • Crypto Updates
  • DeFi
  • Ethereum
  • Metaverse
  • Mining
  • NFT
  • Regulations
  • Scam Alert
  • Uncategorized
  • Web3

SITE MAP

  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • GENERAL
    • ALTCOINS
    • ETHEREUM
    • CRYPTO EXCHANGES
    • CRYPTO MINING
  • BLOCKCHAIN
  • NFT
  • DEFI
  • WEB3
  • METAVERSE
  • REGULATIONS
  • SCAM ALERT
  • ANALYSIS

© 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.