Eric Council Jr, the man who hacked the SEC’s X account last January, was sentenced to 14 months in prison today. In addition to the prison time, Council must forfeit $50,000 and be subject to three years of supervised release.
He was arrested in October 2024, and prosecutors offered him a deal shortly afterward. Council apparently took it in February, pleading guilty to charges of conspiracy to commit aggravated identity theft.
What’s Next for the SEC X Hacker?
At the beginning of 2024, rumors about a Bitcoin ETF approval were turning into a tremendous hype wave. Therefore, when Council hacked the SEC’s X account to claim that it got the green light, this caused market pandemonium.
Bitcoin rose more than $1,000 shortly afterwards, and the hunt for Council began. Today, the story finally ended.
The US Attorney’s office announced that Council had been sentenced for the infamous SEC hack. Court documents showed that he used a SIM Swap to compromise a phone with access to the X account.
Council continued using similar scams until the FBI identified him in August, leading to his October 2024 arrest.
“Schemes of this nature threaten the health and integrity of our market system. SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies. Don’t fool yourself into thinking you can’t be caught. You will be caught, prosecuted, and will pay the price,” claimed US Attorney Jeanine Ferris Pirro.
Interestingly, government prosecutors repeatedly alleged that Eric Council had several co-conspirators in committing the SEC hack. However, none of them have been named, arrested, or charged with anything yet.
The government offered Council a plea deal shortly after his arrest, on the condition that he name these individuals. He pleaded guilty to conspiracy charges in February, presumably suggesting that he did indeed cooperate.
It seems a little strange that there haven’t been any developments in this broader investigation over the last three months.
Still, Council has personally faced justice for his role in the SEC hack. He was sentenced to forfeit $50,000 and spend 14 months in prison.
After his release, he will be under police supervision for the next three years, ensuring that he does not access the dark web or commit identity fraud.
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