Hacker Jailed for Triggering $3,000 Bitcoin Swing in SEC X Account Breach

May 18, 2025 04:00 pm Cryptocurrency 189

Key Takeaways:


  • The hacker, Eric Council Jr., was sentenced to 14 months in prison and forfeited $50,000.

  • A hacker exploited a SIM swap to hijack the SEC’s X account, posting fake Bitcoin ETF approval.

  • The false post temporarily caused Bitcoin to surge over $1,000 before crashing $2,000.

    • A shocking cyber breach involving the U.S. Securities and Exchange Commission (SEC) shook the crypto markets earlier this year. Now, the man behind the manipulation has been sentenced to prison. The case highlights both the power of social media over financial markets and the growing danger of SIM swap fraud in the crypto world.


    Read More: CZ Sounds Alarm After Ledger Discord Hack Exposes Users to Phishing Trap


    Sentencing Sends a Message to Crypto Criminals


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