[Law] US SEC X account hacker pleads guilty for his involvement in a SIM swapping attack

Summary: Eric Council Jr., a 25-year-old US citizen, pleaded guilty for his involvement in hacking the SEC’s social media account, posting false information that led to a significant fluctuation in Bitcoin’s value. Using a SIM swap method, he impersonated a victim to gain access to the SEC’s account. Council faces up to five years in prison, with sentencing scheduled for May 16.

Affected: US Securities and Exchange Commission (SEC)

Keypoints :

• Council posted a fake message claiming SEC approval for Bitcoin ETFs, causing Bitcoin’s value to spike.
• The SEC’s account was compromised using a SIM swap technique, wherein Council fraudulently transferred a victim’s phone number.
• Council received payment in Bitcoin for his role in the scheme and pleaded guilty to aggravated identity theft and access device fraud.