US prosecutors considering plea deal for SEC X account hacker

Federal prosecutors recently arrested Eric Council Jr., an Alabama man who was arrested for hacking the U.S. Securities and Exchange Commission’s X account. He is considering a plea deal offer for.

Bloomberg reported the latest development regarding the SEC X account hack on Friday, October 25.

According to Bloomberg, US attorney Kevin Rosenberg told US District Judge Amy Berman Jackson at the hearing on October 25 that the prosecution was planning a plea deal. However, the government is not sure whether the proposal will be accepted or not.

The Federal Bureau of Investigation arrested 25-year-old Council last week. The U.S. Attorney’s Office for the District of Columbia stated in a press release that the suspect hacked the SEC’s account at

Council and others allegedly used a SIM swapping attack to gain unauthorized access and take over the US securities market regulator’s social media account. This comes as the crypto industry awaits SEC approval for the first spot Bitcoin exchange-traded funds for the US market; this was a period of increased positive emotions.

When the SEC regained control of his account and confirmed that an earlier announcement was fake and the result of a SIM swapping attack, crypto prices fell sharply. Sentiment swung wildly and turned negative for BTC as the price dropped more than $2,000 in a matter of minutes.

The SEC continued to approve spot BTC ETFs, a development that catalyzed the Bitcoin price rise to an all-time high of $73,000.

The charges against the council included conspiracy to commit device fraud and aggravated identity theft. The suspect allegedly received payments in BTC from unnamed sources for the successful SIM swapping attack.