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A man in the United States was sentenced for hijacking the SEC X account to release false news about the approval of a BTC ETF.
According to Wu, the U.S. Department of Justice announced that Alabama man Eric Council Jr. was sentenced to 14 months in prison and 3 years of supervised release for participating in SIM card swapping and hijacking the SEC’s official X account to publish false Bitcoin ETF approval news. The false news once pushed the BTC price up by over $1,000, only to quickly fall by more than $2,000. Council gained control of the SEC account through SIM card swapping and forged identification, and was rewarded with BTC for his actions.