Alabama Man Sentenced for SEC Hack

This is a District of Columbia news story, published by CNBC, that relates primarily to Eric Council Jr. news.

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CNBC

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Business

Business & Economics

SEC bitcoin hack case gets Alabama man sentenced to 14 months in prison

Summary

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73% Informative

Eric Council Jr. was sentenced to 14 months in prison for his role in the January 2024 hack of the Securities and Exchange Commission's X account.

Hackers used the SEC 's account to tweet a bogus statement about the approval of bitcoin ETFs that briefly spiked the price of cryptocurrency by more than $1,000 .

Council, 26 , pleaded guilty three months ago to conspiracy to commit aggravated identity theft and access device fraud.

"Schemes of this nature threaten the health and integrity of our market system," District of Columbia U.S. Attorney Jeanine Pirro said in a statement. " SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies," Pirro said..

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Informative language

Neutral language

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formal

Language

English

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possibly offensive

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not hateful