U.S. federal prosecutors are moving toward a plea deal for Eric Council Jr., the 25-year-old accused of orchestrating the high-profile hack of the SEC’s official social media account.
In January 2024, the SEC's X account was used to post a fraudulent announcement regarding the approval of spot Bitcoin ETFs, causing immediate market volatility ahead of the actual official approval. Prosecutors allege Council used aggravated identity theft to gain access to the account.
"Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges." — The fraudulent post that triggered market chaos.