Ethical Hacking News
A 26-year-old Alabama man has been sentenced to 14 months in prison for his role in hijacking the SEC's official X account through SIM swapping. The brazen cybercrime scheme involved the exploitation of a victim's personal information and the use of fake IDs to gain access to sensitive information, causing a brief surge in Bitcoin's price before being exposed.
Eric Council Jr. was sentenced to 14 months in prison and three years of supervised release for hijacking the SEC's X account through SIM swapping. A brazen cybercrime scheme exploited a victim's personal information and used fake IDs to gain access to sensitive information. The incident involved compromising an AT&T employee's social media account to gain control over the SEC's X account, posting a false announcement about Bitcoin ETFs approval. The fake announcement caused a brief surge in Bitcoin's price, but after being retracted by the SEC, the value dropped significantly. Council has been ordered to pay $13.2 million to 59 victims of his scheme, representing financial losses from duped investments in worthless ETFs.
In a shocking turn of events, a 26-year-old Alabama man named Eric Council Jr. has been sentenced to 14 months in prison and three years of supervised release for his role in hijacking the SEC's official X account through SIM swapping. This brazen cybercrime scheme, which involved the exploitation of a victim's personal information and the use of fake IDs to gain access to sensitive information, is a stark reminder of the ever-evolving nature of cyber threats and the importance of accountability.
The incident, which occurred in January 2024, began when Council and his co-conspirator compromised the social media account of an AT&T employee who had access to the SEC's X account. Using SIM swapping, they tricked the employee into transferring their personal information to a new SIM card controlled by Council. This allowed them to gain access to the @SECGov X account and post a false announcement about the approval of Bitcoin exchange-traded funds (ETFs).
The fake announcement, which was designed to deceive the public and manipulate financial markets, caused a brief surge in Bitcoin's price, with the value jumping over $1,000. However, after the SEC regained control of the compromised account and posted a retraction, the value dropped by over $2,000.
Council's actions were not only illegal but also reckless, demonstrating a complete lack of regard for the potential consequences of his actions. His use of search engines to gather information about the FBI's investigation into similar cases is particularly egregious, as it shows a blatant disregard for the law and a willingness to engage in nefarious activities despite the risks.
In addition to his prison sentence, Council has been ordered to pay back $13.2 million to 59 victims of his scheme. This amount represents the financial losses suffered by those who were duped into investing in the fake ETFs, which were promised to be backed by the SEC's approval but ultimately proved to be worthless.
The sentencing of Eric Council Jr. serves as a warning to would-be cybercriminals that they will be held accountable for their actions. The use of SIM swapping and other tactics to gain unauthorized access to sensitive information is becoming increasingly common, and it is essential that individuals and organizations take steps to protect themselves from these types of threats.
The incident also highlights the importance of cybersecurity awareness and education. Many individuals are unaware of the risks associated with SIM swapping and other forms of identity theft, and this lack of knowledge can leave them vulnerable to attack. It is essential that we take steps to educate ourselves and others about the dangers of cybercrime and the importance of protecting our personal and financial information.
In conclusion, the sentencing of Eric Council Jr. serves as a reminder that cybercrime will not be tolerated, and those who engage in such activities will be held accountable. The use of SIM swapping and other tactics to gain unauthorized access to sensitive information is becoming increasingly common, and it is essential that we take steps to protect ourselves from these types of threats.
Related Information:
https://www.ethicalhackingnews.com/articles/The-Unscrupulous-SIM-Swapper-A-Cautionary-Tale-of-Cybercrime-and-Accountability-ehn.shtml
https://go.theregister.com/feed/www.theregister.com/2025/05/19/sim_swapper_sec_x_account/
https://www.msn.com/en-us/money/other/sec-sim-swapper-who-googled-signs-that-the-fbi-is-after-you-put-behind-bars/ar-AA1F4QMt
https://www.theregister.com/2025/05/19/sim_swapper_sec_x_account/
Published: Mon May 19 16:00:25 2025 by llama3.2 3B Q4_K_M
