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Alabama Man Gets 14 Months for Hacking SEC Account in Bitcoin ETF Hoax

Alabama Man Gets 14 Months for Hacking SEC Account in Bitcoin ETF Hoax

Source: theblock.co5/18/2025

Eric Council Jr., a 26-year-old from Alabama, received a 14-month prison sentence for hacking the SEC’s social media and falsely claiming bitcoin ETFs were approved. The hack, which occurred just before the SEC's legitimate approval in January 2024, caused bitcoin prices to spike by over $1,000. Council pleaded guilty to conspiracy for identity theft and device fraud. U.S. Attorney Jeanine Ferris Pirro highlighted the threat such acts pose to market integrity.