An Alabama resident on Monday confessed to hacking the SEC’s X account and posting a fake Bitcoin (CRYPTO: BTC) exchange-traded fund approval message, causing millions of dollars in market losses.
What Happened: Eric Council pleaded guilty to conspiracy to commit aggravated identity theft in a federal court in Washington, D.C., according to a Justice Department press release.
He now faces a maximum sentence of five years in prison, a fine of up to $250,000, and potentially three years of supervised release. The sentencing is slated for May.
According to court records, …
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