Alabama Man Charged with Hacking SEC X Account to Plead Guilty

Eric Council Jr. faces charges related to hacking the U.S. Securities and Exchange Commission's (SEC) X account. He plans to plead guilty to Conspiracy to Commit Aggravated Identity Theft and Access Device Fraud, agreeing to forfeit $50,000.

Key details include:

Council used a fake ID to access SEC's X account.
The breach occurred before the anticipated approval of spot bitcoin ETFs.
A false post on the SEC's account caused a temporary surge in bitcoin prices.
Sentencing is scheduled for May 16, following his arrest by the FBI in October.