A federal decide has sentenced Eric Council Jr., one of many people chargeable for posting a faux message saying regulatory approval of spot Bitcoin exchange-traded funds, to 14 months in jail.
Following a Might 16 listening to within the US District Court docket for the District of Columbia, the Justice Division introduced that Council would serve 14 months in jail after pleading responsible to at least one rely of conspiracy to commit aggravated identification theft and entry gadget fraud. He was a part of a bunch that compromised the X account of the US Securities and Change Fee (SEC) in January 2024 and mentioned the regulatory physique can be approving spot Bitcoin (BTC) ETFs.
Prosecutors had requested that the decide impose a two-year sentence, whereas Council’s legal professionals requested for one yr and at some point. Court docket filings confirmed he earned roughly $50,000 by way of SIM swap assaults just like the one which compromised the SEC’s X account — funds seemingly topic to forfeiture.
It is a growing story, and additional data will likely be added because it turns into accessible.
