Man Behind SEC’s X Account Hack Bags 14 Months Sentence

In a recent press release, the United States Department of Justice (DOJ) revealed that Eric Council Jr. has received a 14-month prison sentence for hacking the X account of the U.S. Securities and Exchange Commission (SEC). He conspired to post fake messages under the SEC Chairman’s name to influence Bitcoin’s value. U.S. Attorney Jeanette Ferris Pirro and other law enforcement officials dispensed the sentence.

According to court records, Council and others orchestrated a Subscriber Identity Model (SIM) swap attack targeting the mobile phone account associated with the official @SECgov X account. After the exploit on January 9, 2024, he used the account to falsely announce that the SEC had endorsed the much-anticipated Bitcoin ETF.

The Sentence Handed Down By The Court

Council, also known as “Ronin” and “Agiantschnauzer,” was arrested on October 17. On February 10, he admitted to performing a SIM swap for $50,000 and pleaded guilty to conspiracy to commit aggravated identity theft. The court passed its sentence and ordered him to forfeit $50,000. The court also imposed three years of supervised release with conditions, including no access to the dark web and no further identity fraud.

The defendant’s actions were met with severe judicial disapproval.

“Today’s sentencing exemplifies SEC OIG’s commitment to holding bad actors accountable and maintaining the integrity of SEC programs and operations through thorough investigative oversight,” SEC OIG Special Agent in Charge Amanda James said.

Matthew R. Galeotti, Head of the Justice Department’s Criminal Division, also registered his displeasure, saying:

“The Department of Justice is committed to holding accountable individuals who commit cyber fraud and harm investors.”

The FBI has issued warnings to anonymous digital fraudsters, reassuring them that they will not escape the long arm of the law.

U.S. Stance on Crypto Fraud

The U.S. has never backed down from hunting down hackers found wanting.

Recall that prosecutors seek a 5-year prison sentence for Ilya Lichtenstein. He masterminded the $6 billion 2016 Bitfinex hack. Lichtenstein pleaded guilty and cooperated in investigations, including testifying against Bitcoin Fog. He has forfeited stolen funds. His wife, Heather Morgan, faced 18 months for helping launder the money. They were sentenced in November 2024.

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