Latest news with #EricCouncilJr.
Yahoo
16-05-2025
- Yahoo
Athens man to spend over a year in federal prison for hacking SEC social media
WASHINGTON D.C. (WHNT) – An Athens man was sentenced to 14 months in prison after pleading guilty to his part in a January 2024 takeover of a U.S. Securities and Exchange Commission's social media account. According to the United States Department of Justice, 26-year-old Eric Council Jr. conspired with others who took 'unauthorized control' of the SEC's X account and falsely announced the SEC-approved BTC Exchange Trade Funds. Immediately following the fake announcement, the price of BTC rose by more than $1,000 per bitcoin. The SEC was able to regain control of the account and confirm the announcement was false. Council used a fake ID card to impersonate the victim and gain access to the cell phone number in order to get into the SEC's account. His coconspirators were then able to use the account pretending to be the SEC Chairman. 'Schemes of this nature threaten the health and integrity of our market system,' said U.S. Attorney Jeanine Pirro. '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 for the damage your actions create.' Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
11-02-2025
- Yahoo
Man from Alabama pleads guilty over SEC's fake bitcoin post on X
Eric Council Jr. from Alabama has pleaded guilty to being a co-conspirator in the unauthorized takeover of the US Securities and Exchange Commission's Twitter account last year. In early January 2024, SEC's official X account tweeted that bitcoin ETFs had been approved "for listing on all registered national securities exchanges," but SEC Chair Gary Gensler quickly announced that the agency's account was compromised. The commission later revealed that it was the victim of a SIM swapping attack, though it also admitted that it account wasn't protected by multi-factor authentication. Council was the one who carried out the SIM swap, according to the Department of Justice. Council used an ID card printer to create a fake ID that he then used to gain access to a phone number associated with the SEC's account. In a SIM swap, the perpetrator typically gets a user's carrier to reassign a phone number to a new SIM card that they control. His co-conspirators, who paid Council in bitcoin, then changed the SEC account's password to control it before posting the false news along with a fake quote from Gensler. As for why the SEC's account was protected by MFA, the agency previously said that it asked X's support staff to disable it last July, because it was having issues with account access. But it remained disabled until after the account was compromised. Council, who was arrested in October, has pleaded guilty to aggravated identity theft and access device fraud. He will be sentenced on May 16 and could face up to five years in prison. The Justice Department said Bitcoin rose by $1,000 after the fake announcement went up and then fell by $2,000 when the SEC issued a correction.
Yahoo
11-02-2025
- Yahoo
Alabama man pleads guilty in hacking of SEC social media account, boosting bitcoin value
Feb. 10 (UPI) -- An Alabama man on Monday pleaded guilty to hacking into the Securities and Exchange Committee's social media account and posting a false message in January 2024. Eric Council Jr., 25, of Athens, posted a fraudulent message in the name of then-SEC Chairman Gary Gensler on X, temporarily causing the value of each bitcoin to increase by more than $1,000, the Department of Justice said. He was arrested in October 2024. In the U.S. District Court in Washington, D.C., he pleaded guilty to conspiracy to commit aggravated identity theft and access device fraud. Council is scheduled to be sentenced on May 16 by Judge Amy Berman Jackson and faces a maximum penalty of five years in prison. He was released into his parents' custody on a $5,000 bond after his arrest. According to court documents, the post falsely announced that the SEC approved BTC Exchange Traded Funds, a decision highly anticipated by the market. One day later, the SEC approved bitcoin to be a part of mainstream investment through spot bitcoin exchange-traded funds. Shortly after this unauthorized post, the SEC regained control over its X account and confirmed that the announcement was false and the result of a security breach. The value of BTC decreased by more than $2,000 per bitcoin. SEC ACCOUNT WAS HACKED Bitcoin Archive (@BTC_Archive) January 9, 2024 Council, along with other conspirators, gained control of the SEC's X account through an unauthorized Subscriber Identity Module swap. This is a process of fraudulently inducing a cellphone carrier to reassign a phone number from the legitimate subscriber or user's SIM card to a SIM card controlled by the criminal Council used an identification card printer to create a fraudulent identification card with a victim's personally identifiable information obtained from his co-conspirators, DOJ said. By impersonating the victim, he gained access to the victim's phone number to access the SEC's account. Council received payment in bitcoin from his co-conspirators for his role. The FBI Washington Field Office and SEC Office of Inspector General investigated the case.
Yahoo
10-02-2025
- Business
- Yahoo
Man pleads guilty to role in SEC social media account hack that led the price of bitcoin to spike
An Alabama man admitted Monday to taking part in a January 2024 hack of a U.S. Securities and Exchange Commission social media account designed to manipulate the price of bitcoin. Eric Council Jr., 25, pleaded guilty to an identity theft charge in U.S. District Court in Washington, court records show. His sentencing is set for May. Council was arrested in October and charged with helping to break into the SEC's account on X, formerly known as Twitter, allowing unnamed co-conspirators to falsely announce the approval of long-awaited bitcoin exchange-traded funds, prosecutors said. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. The price of bitcoin briefly spiked by more than $1,000 after the hacked account posted: 'The SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.' Soon after the initial post appeared, then-SEC Chairman Gary Gensler said on his personal account that the SEC's account was compromised. The price of bitcoin swung from about $46,730 to just below $48,000 after the unauthorized post hit on Jan. 9 and then dropped to around $45,200 after the SEC's denial. The SEC officially approved the first exchange-traded funds that hold bitcoin the following day. Bitcoin has recently been trading around $100,000. Council carried out what's known as a 'SIM swap,' using a fake ID to impersonate someone with access to the SEC's X account and convince a cellphone store to give him a SIM card linked to the person's phone, prosecutors said. Council was able to take over the person's cellphone number and get access codes to the SEC's X account, which he shared with others who broke into the account and sent the post, the Justice Department said. Prosecutors said Council received payment from his co-conspirators in bitcoin and made about $50,000 as part of the scheme. Before his arrest, prosecutors said Council's internet search history included 'how can I know for sure if I am being investigated by the FBI" and 'federal identity theft statute.'
Yahoo
10-02-2025
- Business
- Yahoo
Man pleads guilty to role in SEC social media account hack that led the price of bitcoin to spike
An Alabama man admitted Monday to taking part in a January 2024 hack of a U.S. Securities and Exchange Commission social media account designed to manipulate the price of bitcoin. Eric Council Jr., 25, pleaded guilty to an identity theft charge in U.S. District Court in Washington, court records show. His sentencing is set for May. Council was arrested in October and charged with helping to break into the SEC's account on X, formerly known as Twitter, allowing unnamed co-conspirators to falsely announce the approval of long-awaited bitcoin exchange-traded funds, prosecutors said. The price of bitcoin briefly spiked by more than $1,000 after the hacked account posted: 'The SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges.' Soon after the initial post appeared, then-SEC Chairman Gary Gensler said on his personal account that the SEC's account was compromised. The price of bitcoin swung from about $46,730 to just below $48,000 after the unauthorized post hit on Jan. 9 and then dropped to around $45,200 after the SEC's denial. The SEC officially approved the first exchange-traded funds that hold bitcoin the following day. Bitcoin has recently been trading around $100,000. Council carried out what's known as a 'SIM swap,' using a fake ID to impersonate someone with access to the SEC's X account and convince a cellphone store to give him a SIM card linked to the person's phone, prosecutors said. Council was able to take over the person's cellphone number and get access codes to the SEC's X account, which he shared with others who broke into the account and sent the post, the Justice Department said. Prosecutors said Council received payment from his co-conspirators in bitcoin and made about $50,000 as part of the scheme. Before his arrest, prosecutors said Council's internet search history included 'how can I know for sure if I am being investigated by the FBI" and 'federal identity theft statute.' Alan Suderman, The Associated Press Sign in to access your portfolio
