Eric Council Jr, the man who hacked the SEC’s X account last January, was sentenced to 14 months in prison today.

At the beginning of 2024, rumors about a Bitcoin ETF approval were turning into a tremendous hype wave. Therefore, when Council hacked the SEC's X account

A U.S. District Judge has sentenced a New Jersey man to 14 months in prison for his role in hacking the Securities and Exchange Commission’s X account last January.

Eric Council Jr, 32, of Livingston, New Jersey, was also ordered to forfeit $50,000 and be subject to three years of supervised release.

According to court documents, Council’s journey began when he was arrested by FBI agents in October 2024. Shortly after, prosecutors offered him a plea deal, which he accepted in February.

At the time, he pleaded guilty to charges of conspiracy to commit aggravated identity theft.

The case arose from a series of identity theft scams that began in 2023. According to the US Attorney’s office, Council and his accomplices used SIM swap and other types of cybercrime to steal personal and financial data from individuals and institutions.

Earlier this year, rumors about a Bitcoin ETF approval were turning into a tremendous hype wave. So, when the SEC’s X account announced that the institution had approved the ETF, it caused market pandemonium.

Bitcoin rose more than $1,000 shortly afterwards, and the hunt for the hacker began.

Today, the story finally ended. The US Attorney’s office announced that Council had been sentenced for the infamous SEC hack.

As shared previously, the hacker used a SIM Swap to compromise a phone with access to the X account. He also continued using similar scams until the FBI identified him in August, leading to his October 2024 arrest.

“Schemes of this nature threaten the health and integrity of our market system. 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,” claimed US Attorney Jeanine Ferris Pirro.

Interestingly, government prosecutors repeatedly alleged that Eric Council had several co-conspirators in committing the SEC hack. However, none of them have been named, arrested, or charged with anything yet.

The government offered Council a plea deal shortly after his arrest, on the condition that he name these individuals. He pleaded guilty to conspiracy charges in February, presumably suggesting that he did indeed cooperate.

It seems a little strange that there haven’t been any developments in this broader investigation over the last three months.

Still, Council has personally faced justice for his role in the SEC hack. He was sentenced to forfeit $50,000 and spend 14 months in prison.

After his release, he will be under police supervision for the next three years, ensuring that he does not access the dark web or commit identity fraud.