Alabama native Eric Council Jr. is about to be offered a plea deal by federal prosecutors for his alleged involvement in the hack of the U.S. Securities and Exchange Commission’s (SEC) official X account.
Effects of Hacking Incident
This incident is explained as an attack carried out using social engineering method. Bitcoin with a fake message 
$67,537 The announcement of ETF approval caused temporary fluctuations in the cryptocurrency market.
At the hearing in Washington federal court, Assistant U.S. Attorney Kevin Rosenberg announced that prosecutors plan to continue offering Council a plea deal.
“We will make an offer of confession. “I have no idea whether it will be accepted or not.” -Rosenberg
Possibility of Collaboration
If Council accepts the plea deal, it could help federal authorities identify and prosecute other accomplices. Council also faces other charges, including aggravated identity theft and unauthorized access to a device.
Prosecutor said Council did not act alone and is estimated to have acted under the guidance of other people who organized the attack. According to the prosecutor’s office, other people involved in the crime used the SIM swap method to target the SEC employee and managed to bypass the security measures of the SEC’s social media account.
While these developments constitute an important example in the field of cyber security, authorities emphasize the need to take additional measures to prevent similar attacks. Eric Council Jr.’s progress in the case is considered an important step in the legal fight against cybercrime.
Ultimately, the SEC’s measures to improve the security of social media accounts and prevent similar attacks can help organizations become more resilient to cyber threats.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
