U.S. Prosecutors Offer Plea Deal to Alleged Hacker

U.S. prosecutors are preparing to offer a plea deal to Eric Council Jr., an Alabama man accused of hacking the SEC's social media account.

In January, the SEC's X account made a false announcement about spot bitcoin funds being approved prior to the agency's official statement.

During a recent hearing at the U.S. District Court in Washington, D.C., Assistant U.S. Attorney Kevin Rosenberg mentioned plans to "extend a plea." However, it is unclear if it will be accepted.

Council, 25, was arrested and charged with conspiracy to commit aggravated identity theft and access device fraud, for which he has pleaded not guilty.

The SEC's X account was infiltrated in January ahead of the approval of spot bitcoin ETFs. It falsely claimed, "Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges," leading to a spike in bitcoin's price by over $1,000.

Prosecutors allege that Council acquired personal identifying information from an accomplice, created a fake ID, and obtained a SIM card linked to the victim's phone. He then used this information to access the SEC’s X account.

Judge Amy Berman Jackson is overseeing this case in addition to another brought by the SEC against Binance. If a plea agreement is reached, both parties must submit proposed paperwork by December 4, according to court records.