Hacker in SEC X account breach faces $50k fine in plea deal

Eric Council Jr., the man accused of having helped to break the X account of the American Commission for Securities and Exchange, pleaded guilty to the accusations.

Consequently, the Council faces a potential fine of $ 50,000 as part of the advocacy agreement, Bloomberg reported.

The American authorities proposed the confiscation of $ 50,000 in a file at the American district court of the Columbia district on February 9. The fine concerns what the prosecutors say they are an amount that the council “obtained personally” in the middle of the false post on X, formerly Twitter, which alleged that the dry had approved the first Bitcoin spot (BTC) Corporated funds on the United States.

The price of Bitcoin has increased sharply before hunting because the agency confirmed that its account X had been hacked.

As Crypto.news reported at the time, the The FBI stopped the council In October 2024. Later this month, reports emerged that federal prosecutors were Considering a plea agreement offer.

On Monday, February 10, 2025, Eric Council Jr. pleaded guilty to an aggravated identity flight manager and the fraud of the devices. Judge Amy Berman Jackson set the date of determining the sentence until May 16, 2025.

The SEC approved the ETF spots one day after the hack, the interest of the market by seeing the FNB IBIT of Blackock dominate the entries as the purchase pressure increased. During the year, entries reached more than $ 40 billion, the US FNB SPOT 2024 FNB market with more than $ 120 billion in net assets.

Additional developments to the SEC have experienced the approval of Ethereum spot (Ethn) ETF in the United States, the election of Donald Trump also experienced a series of resignations and outings to the agency, including that of former president Gary Gensler.

Meanwhile, the industry witnessed a wave of activities compared to new ETF applications, notably for Litecoin, XRP, Solana and Dogecoin.