A federal judge has sentenced Eric Council Jr., one of the individuals responsible for posting a fake message announcing regulatory approval of spot Bitcoin exchange-traded funds, to 14 months in prison.
Following a May 16 hearing in the US District Court for the District of Columbia, the Justice Department announced that Council would serve 14 months in prison after pleading guilty to one count of conspiracy to commit aggravated identity theft and access device fraud. He was part of a group that compromised the X account of the US Securities and Exchange Commission (SEC) in January 2024 and said the regulatory body would be approving spot Bitcoin (BTC) ETFs.
Prosecutors had requested that the judge impose a two-year sentence, while Council’s lawyers asked for one year and one day. Court filings showed he earned roughly $50,000 through SIM swap attacks like the one that compromised the SEC’s X account — funds likely subject to forfeiture.
This is a developing story, and further information will be added as it becomes available.
