Hacker Behind SEC Twitter Hoax Gets 14 Months in Federal Prison
A man from Alabama has been sentenced to over a year in federal prison for orchestrating a cyberattack that briefly shook U.S. financial markets by hijacking the SEC’s official X (formerly Twitter) account.
Eric Council Jr., 26, played a key role in a coordinated SIM-swapping scheme that led to unauthorized access to the U.S. Securities and Exchange Commission’s social media profile. On January 9, 2024, a false post was published from the hacked account, falsely announcing the approval of Bitcoin ETFs. The post caused Bitcoin’s price to surge by more than $1,000 before the SEC debunked the message, triggering a swift price reversal.
Court documents reveal that Council visited a Huntsville AT&T store using a forged ID to impersonate the account owner linked to the SEC’s number. He activated a new SIM card in an iPhone, received security codes for the SEC account, and forwarded them to his accomplices before returning the phone for a refund. The access enabled the group to push the fake announcement.
When FBI agents later searched Council’s apartment, they uncovered ID-making equipment, a laptop loaded with forged document templates, and searches related to the hack, FBI investigations, and SIM swap tutorials. Investigators also found evidence of him scouting telecom locations and researching legal consequences.
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Council pleaded guilty to conspiracy to commit identity theft and was sentenced to 14 months in prison. He was also ordered to forfeit $50,000 in illicit earnings and will be under supervised release for three years. During that time, he is barred from any identity-related activity and restricted from accessing the dark web.
Federal officials described the attack as a deliberate and dangerous attempt to manipulate financial markets. Justice Department and SEC representatives emphasized that cases like this highlight the urgent need for stronger cybersecurity vigilance, especially as digital threats increasingly target public institutions and financial systems.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
