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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.
Impact of the Hacking Incident
This incident is described as an attack executed through social engineering techniques. A fraudulent message announcing Bitcoin 
$83,045 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.
