Man Gets 14 Months for SEC's X-Account Hack

Man Who Hacked Sec's X Account Gets 14 Months in Prison

17 May 2025 at 07: 21

Reading time: 2 minutes

An Alabama man has been sentenced to 14 months in prison for his involvement in the hacking of the Securities and Exchange Commission's X account (SEC) last year. This happened after he helped in a SIM swap scandal, which involved a false announcement about the approval of Bitcoin ETFs was posted. This deception led to a temporary increase in the Bitcoin price.

Eric Council Jr. of Athens, Alabama, previously pled guilty to conspiracy to commit aggravated identity fraud in connection with this January 2024 SIM-swapping attack. He used a handheld ID printer to create a falsified identification, which he then used to obtain a replacement SIM card for the phone number associated with the @SECGov account on X, formerly Twitter.

Using this replacement SIM, Council was able to access the regulator’s account reset codes, which he shared with other accomplices. They posted the false information about the approval of Bitcoin ETFs, which also affected the Bitcoin price. These pranks in the crypto world are often like triggering a tornado with a haze of sensationalism and drama.

In June 2024, during a search of Council’s home, the FBI found a laptop containing internet searches for terms such as “How can I be sure the FBI is investigating me?” and “What are signs the FBI is watching me?” He was eventually arrested in October of the previous year.

The fake tweets about the approval caused a brief surge in Bitcoin’s price, but it plummeted when then-SEC Chairman Gary Gensler confirmed that the account had been hacked. Just a day later, on January 10, the SEC officially announced the approval of the Bitcoin ETFs, allowing them to be traded in the United States. Since then, Bitcoin’s price has more than doubled to $103.876.

In addition to the prison sentence, Council was ordered to forfeit $50.000 and will serve three years of supervised release, with the condition that he not access the dark web or commit further identity theft. The implications of his actions are clear: schemes like this undermine the integrity of our market system and undermine the financial security of ordinary citizens, financial institutions, and government agencies. The message is clear: don’t think you can’t get caught. The reality is that there is always a price to pay for such harm.

Frequently Asked Questions

What was Eric Council Jr.'s role in the SEC account hack?
Eric Council Jr. assisted in a SIM swap to gain access to the SEC's X account, where he and his accomplices posted false messages about the approval of Bitcoin ETFs.

What Happened to the Bitcoin Price After the Fake Announcements?
After the fake tweets, Bitcoin price temporarily rose, but then rebounded when news broke that the SEC account had been hacked. Eventually, the price rose even further after the SEC announced the actual approval of the ETFs.

What punishment did Council receive for his activities?
Eric Council Jr. was sentenced to 14 months in prison, ordered to remit $50.000 and placed on three years of supervision, including an obligation to refrain from any form of identity fraud.

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