{"id":42559,"date":"2025-05-17T11:23:36","date_gmt":"2025-05-17T08:23:36","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=42559"},"modified":"2025-05-17T12:39:44","modified_gmt":"2025-05-17T09:39:44","slug":"14-month-prison-sentence-for-bitcoin-etf-tweet","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/14-month-prison-sentence-for-bitcoin-etf-tweet\/","title":{"rendered":"14-Month Prison Sentence for Bitcoin ETF Tweet!"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/14-month-prison-sentence-for-bitcoin-etf-tweet\/#Fake_Bitcoin_ETF_Approval_Doubled_the_Price\" title=\"Fake Bitcoin ETF Approval Doubled the Price\">Fake Bitcoin ETF Approval Doubled the Price<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/14-month-prison-sentence-for-bitcoin-etf-tweet\/#14_Months_in_Prison_and_Strict_Conditions_for_Release\" title=\"14 Months in Prison and Strict Conditions for Release\">14 Months in Prison and Strict Conditions for Release<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/coinengineer.net\/blog\/14-month-prison-sentence-for-bitcoin-etf-tweet\/#Digital_Security_is_Essential_for_Everyone\" title=\"Digital Security is Essential for Everyone\">Digital Security is Essential for Everyone<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Fake_Bitcoin_ETF_Approval_Doubled_the_Price\"><\/span>Fake Bitcoin ETF Approval Doubled the Price<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>Eric Council Jr.<\/strong> created fake identity documents and seized the <strong>SIM card<\/strong> linked to the <strong>SEC\u2019s<\/strong> account. The company activated the new SIM card for the line associated with the <strong>SEC\u2019s<\/strong> X account. Council received password reset messages through this line. He then accessed the X account and shared a fake <strong>Bitcoin ETF<\/strong> approval announcement.<\/p>\n<p>This post quickly pushed <strong>Bitcoin&#8217;s price<\/strong> up within hours. Investors believed the announcement and acted accordingly. However, <strong>SEC Chair Gary Gensler<\/strong> promptly stated that the account had been hacked. Gensler warned investors about misinformation. The next day, on January 10, 2024, the <strong>SEC officially announced the Bitcoin ETF<\/strong> approval. Bitcoin\u2019s price continued to rise following this news, eventually more than doubling to $103,876.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"14_Months_in_Prison_and_Strict_Conditions_for_Release\"><\/span>14 Months in Prison and Strict Conditions for Release<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In June 2024, the <strong>FBI<\/strong> raided Council\u2019s home. Authorities found searches like \u201c<strong>Is the FBI watching me<\/strong>?\u201d on his computer. This indicated the attack was deliberate and planned. Officials arrested Council in October. The court sentenced him to <strong>14 months in prison<\/strong> and a $50,000 fine. Additionally, the judge <strong>banned<\/strong> him from accessing the dark web. He will remain on supervised release for three years and cannot engage in any identity fraud attempts.<\/p>\n<p><strong>U.S. Attorney Jeanine Pirro gave a clear message regarding the case:<\/strong><\/p>\n<blockquote><p>\u201cThese schemes damage market trust. SIM swap fraud targets ordinary citizens and government agencies alike. No one should think they won&#8217;t get caught. Law enforcement will find you, bring you to justice, and make you pay.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Digital_Security_is_Essential_for_Everyone\"><\/span>Digital Security is Essential for Everyone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This incident impacted not only major institutions like the <strong>SEC<\/strong> but also individual investors. Verifying the accuracy of news in the <strong><a href=\"https:\/\/coinengineer.net\/blog\/why-is-the-crypto-market-decline-analysis-2025\/\">crypto market<\/a><\/strong> is crucial. Not every post on <strong>social media<\/strong> should be trusted. Investors should only consider official statements.<\/p>\n<p>Moreover, it\u2019s vital not to underestimate security vulnerabilities in the investment world. Ultimately, this case reminds us how critical digital identity security is. <strong>Social media account<\/strong> protection has become a key part of financial safety. In particular, government institutions must implement tighter safeguards.<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fake Bitcoin ETF Approval Doubled the Price Eric Council Jr. created fake identity documents and seized the SIM card linked to the SEC\u2019s account. The company activated the new SIM card for the line associated with the SEC\u2019s X account. Council received password reset messages through this line. He then accessed the X account and<\/p>\n","protected":false},"author":36,"featured_media":42560,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[657,2],"tags":[534,1530,847,5473,15959,15957,15960,839,15958,4092],"class_list":["post-42559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-en","category-news","tag-bitcoin-etf","tag-crypto-fraud","tag-crypto-news","tag-digital-security","tag-eric-council-jr","tag-fake-bitcoin-etf","tag-fbi-raid","tag-gary-gensler","tag-sec-hack","tag-sim-swap"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>14-Month Prison Sentence for Bitcoin ETF Tweet! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/14-month-prison-sentence-for-bitcoin-etf-tweet\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"14-Month Prison Sentence for Bitcoin ETF Tweet! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Fake Bitcoin ETF Approval Doubled the Price Eric Council Jr. created fake identity documents and seized the SIM card linked to the SEC\u2019s account. 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