Eric Council Jr., involved in hacking the official X account (formerly Twitter) of the U.S. Securities and Exchange Commission (SEC), has been sentenced to 14 months in prison. Council admitted guilt to conspiracy charges involving aggravated identity theft and access device fraud.

The attack occurred in January 2024, when Council and his accomplices conducted a SIM swap hack on the SEC’s social media account. They posted a false announcement stating that the SEC had approved spot Bitcoin ETFs, causing confusion and market disruption.

Interim U.S. Attorney for the District of Columbia, Jeanine Pirro, emphasized the serious threat these types of schemes pose to financial security and market integrity. SIM swap scams can severely affect ordinary citizens, financial institutions, and governmental agencies, highlighting the broader risks associated with digital identity theft.

Council reportedly earned around $50,000 through similar SIM swap attacks, and prosecutors initially sought a harsher two-year prison sentence. However, Council’s legal team advocated for just over one year, resulting in the judge’s decision to impose a 14-month prison term. Following his imprisonment, Council will also serve three years under supervised release. He currently remains free on personal recognizance and the exact date he will report to prison has not been determined.

Council's sentencing adds to recent high-profile crypto-related court cases. Earlier this month, Alex Mashinsky, the former CEO of crypto lender Celsius, received a 12-year sentence after pleading guilty to felony charges. Meanwhile, former SafeMoon CEO John Karony’s criminal trial continues, drawing considerable attention from the cryptocurrency community.

The case underscores the increasing scrutiny of crypto-related crimes and serves as a stern warning against hacking attacks targeting government and financial bodies.