- Council used a fake ID at a phone store to get access to the SEC’s account system.
- He was paid fifty thousand dollars for giving login codes to other people involved.
- The post caused a sudden Bitcoin price jump before it quickly dropped after being denied.
An Alabama man was sentenced to 14 months in federal prison for helping hack the SEC’s X account in January 2024. The breach spread a false claim about Bitcoin ETFs, briefly spiking Bitcoin’s price by over $1,000. Eric Council Jr. admitted to using a fake ID in a SIM swap scheme to access the account. The U.S. Justice Department confirmed he pleaded guilty to conspiracy and fraud charges in February 2025.
Besides prison time, Council was ordered to forfeit $50,000 and will face three years of supervised release. U.S. District Judge Amy Berman Jackson also banned him from accessing the dark web or committing identity-related offenses during supervision. The Justice Department announced the verdict, citing the Council’s key role in the cyber intrusion that disrupted the financial world.
Fake ETF Tweet Sent Bitcoin Soaring
On January 9, 2024, a fraudulent tweet from the SEC’s X account falsely claimed approval of Bitcoin ETFs. The message triggered a surge in Bitcoin’s price, briefly jumping by more than $1,000. The SEC swiftly clarified the tweet was unauthorized and false. Prices returned to normal soon.
According to prosecutors, Council used a fake ID to impersonate an AT&T customer in Huntsville, Alabama. He obtained a replacement SIM card linked to the SEC’s account. He also purchased and then returned an iPhone used to intercept reset codes. He admitted earning $50,000 for his role and used his personal ID card printer to craft the fake identity used in the scam.
FBI Traces Digital Footprints to Council
In June 2024, FBI agents raided Council’s residence in Athens, Alabama, and found critical evidence that would be used against him. These included a fake ID, a card printer, and a laptop with an incriminating history. The search logs contained phrases such as “SECGOV hack” and “how to know if I am being investigated by the FBI.” Agents found further templates to make IDs, as well as queries about SIM swaps and deleting Telegram accounts.
Council was arrested on October 17, 2024. He accepted a plea deal while awaiting what was initially a possible two-year sentence. Court records show Council had been free on personal recognizance bail pending sentencing.
Related: Two-Year Prison Term Recommended for SEC X Account Hacker
High-Profile Crypto Cases Continue
The council’s sentencing adds to a growing list of crypto-related criminal cases. Some, like FTX’s fallout, have reached a resolution and others remain ongoing. On May 8, Alex Mashinsky, former Celsius CEO, received a 12-year sentence after pleading guilty to two criminal counts. Meanwhile, the trial of former SafeMoon CEO John Karony continues in the Eastern District of New York. His case remains unresolved.
