US Prosecutors recommend 2 years for SEC hacker
Summary
The US government has requested a two-year prison sentence for Eric Council Jr. for his involvement in posting a fraudulent message on the SEC's X account, falsely claiming the approval of Bitcoin exchange-traded funds (ETFs). Prosecutors highlighted that the fake announcement, made in January 2024, impacted markets before the SEC's actual approval the following day. Council's actions included a SIM swap attack to gain control of the SEC's account and involved sophisticated fraud techniques. He has pleaded guilty and is scheduled for sentencing on May 16. The case reflects ongoing scrutiny of digital asset regulations amid changes in DOJ leadership under President Trump, which may influence future prosecutions in the crypto sector.
