A nightmare unfolded on the day the SEC‘s X account was hacked, coinciding with the approval of an ETF. Investors suffered significant losses due to the malicious attack. The perpetrator, Eric Council, was arrested on October 17, and legal proceedings are currently underway. Today, Council pleaded guilty in the United States District Court for the District of Columbia.
Details of the Hacking Case
On October 17, 2024, Eric Council admitted to conspiracy to commit aggravated identity theft in court. This confession was announced by U.S. Attorney Edward R. Martin, Jr., along with other officials from the Department of Justice, the SEC, and the FBI’s Cyber Division.
Council faces a potential sentence of up to five years in prison, three years of supervised release, and a fine of $250,000. His sentencing is scheduled for May 16, 2025.
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SIM Swap attacks…
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