Oh, what a tangled web we weave when first we practice to hack, eh? Eric Council Jr., the daring chap accused of infiltrating the SEC’s X account, has pleaded guilty to the charges. How frightfully sporting of him!
As per Bloomberg, our dear Mr. Council is now facing a potential fine of $50,000, all part of the plea deal. Quite a hefty sum, what? Prosecutors claim this amount is what our jolly friend “personally obtained” during the great Bitcoin price spike caused by the fake post on X (formerly Twitter), announcing the first spot Bitcoin ETF approved in the United States.
Oh, the drama! The Bitcoin price spiked sharply before plummeting, causing quite a stir in the crypto world. The agency later confirmed that their X account had been compromised. Scandalous, what?
Fast forward to February 10, 2025, and our hero, Mr. Council, pleaded guilty to one count of aggravated identity theft and device fraud. Judge Amy Berman Jackson has set the sentencing date for May 16, 2025. Mark your calendars, folks!
Meanwhile, the crypto world has moved on, with the SEC approving spot Ethereum ETFs in the U.S. The industry has also seen a flurry of activity in relation to new ETF applications, including for Litecoin, XRP, Solana, and Dogecoin.
And as for Mr. Council, well, he’s learning the hard way that crime doesn’t pay. Or at least, it might pay $50,000, but who’s counting, right?
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2025-02-10 21:10