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Reading: Federal Prosecutors Offer Plea Deal to Eric Council Jr. for SEC Account Hack
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COINTURK NEWS > Cryptocurrency Security > Federal Prosecutors Offer Plea Deal to Eric Council Jr. for SEC Account Hack
Cryptocurrency Security

Federal Prosecutors Offer Plea Deal to Eric Council Jr. for SEC Account Hack

In Brief

  • Eric Council Jr. faces a plea deal for allegedly hacking the SEC's account.

  • The fraudulent message triggered temporary fluctuations in the cryptocurrency market.

  • Prosecutors aim to identify and prosecute other individuals involved in the crime.

Fatih Uçar
Fatih Uçar 8 months ago
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Eric Council Jr., originally from Alabama, faces a potential plea deal from federal prosecutors related to his alleged involvement in the hacking of the U.S. Securities and Exchange Commission’s (SEC) official X account.

Contents
Impact of the Hacking IncidentPossibility of Cooperation

Impact of the Hacking Incident

This incident is described as an attack executed through social engineering techniques. A fraudulent message announcing Bitcoin $0.000056 ETF approval led to temporary fluctuations in the cryptocurrency market.

During a hearing in a Washington federal court, Assistant U.S. Attorney Kevin Rosenberg stated that prosecutors plan to continue offering a plea deal to Council.

“We will extend a plea offer. I have no idea if it will be accepted.” – Rosenberg

Possibility of Cooperation

If Council accepts the plea deal, it could assist federal authorities in identifying and prosecuting other accomplices. Council also faces additional charges, including aggravated identity theft and unauthorized access to a device.

Prosecutors believe that Council did not act alone and was likely directed by others who organized the attack. According to the prosecution, other individuals involved in the crime used SIM swapping techniques to target an SEC employee and successfully bypassed the security measures of the SEC’s social media account.

These developments serve as a significant example in the field of cybersecurity. Authorities emphasize the need for additional measures to prevent similar attacks. Council’s case is viewed as an important step in the legal battle against cybercrime.

Ultimately, measures to enhance the security of the SEC’s social media accounts could help organizations become more resilient against cyber threats.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 26 October, 2024 - 4:21 am 26 October, 2024 - 4:21 am
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