CNBC reports that Alabama man Eric Council Jr. has been given a 14-month prison sentence for his involvement in the hack of the U.S. Securities and Exchange Commission's account on X, formerly Twitter, in January 2024, which resulted in a momentary bitcoin price surge.
Infiltration of the SEC's X account through a SIM swap attack against a linked mobile device allowed Council , also known as Easymunny, Ronin, and AGiantSchnauzer, to publish a post that increased bitcoin prices by over $1,000 although prices declined by more than $2,000 after the account was recovered by the agency, according to the Justice Department. Such sentencing comes months after Council, who was reportedly paid nearly $50,000 worth of bitcoin over the attack, entered a guilty plea for his role in the incident. "SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies," said District of Columbia U.S. Attorney Jeanine Pirro.
Infiltration of the SEC's X account through a SIM swap attack against a linked mobile device allowed Council , also known as Easymunny, Ronin, and AGiantSchnauzer, to publish a post that increased bitcoin prices by over $1,000 although prices declined by more than $2,000 after the account was recovered by the agency, according to the Justice Department. Such sentencing comes months after Council, who was reportedly paid nearly $50,000 worth of bitcoin over the attack, entered a guilty plea for his role in the incident. "SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies," said District of Columbia U.S. Attorney Jeanine Pirro.
