SEC Hacker Sentenced: Bitcoin ETF Hoax Leads to Prison
Man who hacked SEC’s X account to pump Bitcoin ETF prices gets 14 months in prison. Learn how the fake crypto news unfolded.
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SEC Hacker Sentenced: Bitcoin ETF Hoax Leads to Prison SEC Hacker Sentenced After Bitcoin ETF Hoax Sends Crypto Market Surging What happened when the SEC’s X ( formerly Twitter) account was hacked, and how did it impact Bitcoin prices? In a major case blending cybersecurity, crypto market manipulation, and financial fraud, a U. S. man has been sentenced to federal prison for hacking the U. S. Securities and Exchange Commission’s official X account to falsely announce Bitcoin ETF approvals. This high- profile breach not only misled investors but also briefly caused Bitcoin prices to spike— highlighting growing concerns around digital asset regulation, social engineering, and SIM swap attacks. Image Credits:Valerie Plesch/Bloomberg / Getty Images Who Was Behind the SEC Bitcoin ETF Hack? Eric Council Jr., 26, of the United States, was sentenced to 14 months in prison and three years of supervised release for his role in orchestrating the cyberattack. The Department of Justice ( DOJ) confirmed the sentencing in an official press release…