Eric Council Jr., a 25-year-old from Alabama, was arrested in October for his role in the hack of the SEC’s X account.

Eric Council, Jr. will spend two years in prison for an identity theft scheme that led to a false post by the SEC on X that bitcoin ETFs had been approved.

Following the unauthorized X takeover, the Athens man made internet searches that included, “What are some signs the FBI is after you?”

The price of bitcoin rose more than $1,000 after the January 2024 hack of the X account of the U.S. Securities and Exchange Commission.

An Alabama man pleaded guilty to participating in the hack of the US Securities and Exchange Commission’s X account that involved sending a fake social media post announcing the authorization of the first-ever spot Bitcoin exchange-traded funds.

The man, Eric Council Jr., used a fake ID to gain access to a device with SEC account credentials. The account was then used to falsely say spot bitcoin ETFs had been approved..

An Alabama man on Monday pleaded guilty to hacking into the Securities and Exchange Committee's social media account and posting a false message in January 2024.