The hacker who invaded the SEC account and announced the approval of the Bitcoin ETF is scheduled to be sentenced on May 16th

According to a report by Golden Ten, Eric Council Jr, a 25-year-old man from Alabama, admitted to participating in the hacking attack on the "X" account of the US Securities and Exchange Commission (SEC). Last January, he posted a false post on the platform announcing that the first (spot) Bitcoin ETF had been authorized. Coulson pleaded guilty to conspiring to commit aggravated identity theft and device access fraud in federal court in Washington on Monday. Judge Amy Berman Jackson is scheduled to deliver her verdict on May 16th. The prosecutor accused Coulson of using forged identity documents and deceiving a local mobile phone store employee to help him hack into the victim's phone. The day before the SEC account was hacked, analysts expected the SEC to announce approval of a spot Bitcoin ETF. The fake post released by this hacker on January 9, 2024 caused a surge in Bitcoin prices. Subsequently, the SEC confirmed that the announcement was unauthorized, and cryptocurrency prices immediately fell. The next day, the SEC officially announced the approval of a spot Bitcoin ETF.