Bitcoin Blunder: Alabama Man’s SEC Hack Leads to Prison Time and Crypto Chaos
Eric Council Jr. from Huntsville, Alabama, faces 14 months in prison for hacking the SEC’s social media account on X, formerly Twitter. His fake Bitcoin announcement caused a brief crypto rollercoaster. Turns out, the SEC’s account lacked two-factor authentication—oops! Cybercrime: where the stakes are high, and the security settings are low.
Hot Take:
Who knew that signing up for a 14-month “Hacking for Dummies” course could land you in jail? Eric Council Jr. certainly found out the hard way. His crash course in cybercrime not only boosted Bitcoin prices temporarily but also earned him a one-way ticket to a prison cell. The moral of the story? Hacking the SEC’s social media might give you a fleeting financial high, but it’s nothing compared to the long-term low of answering to the law.
Key Points:
- Eric Council Jr. was sentenced to 14 months in prison for hacking the SEC’s social media account.
- He pleaded guilty to charges of conspiracy to commit aggravated identity theft and access device fraud.
- The hack involved a SIM swap attack and resulted in a fake Bitcoin announcement.
- The tweet temporarily inflated Bitcoin’s value but was debunked by the SEC within minutes.
- Council made $50,000 from his role in the attack, but it came at the cost of his freedom.