Man Behind SEC Bitcoin Hoax Tweet Sentenced in SIM Swap Hack

A Huntsville, Alabama resident, Eric Council Jr., 26, has received a 14-month prison sentence for his involvement in a scheme to hack the US Securities and Exchange Commission’s (SEC) official social media account on X, formerly Twitter.

Council’s sentencing in May 2025 follows his guilty plea in February 2025 to charges including conspiracy to commit aggravated identity theft and access device fraud. The incident, which occurred in January 2024, involved the posting of false information about Bitcoin that briefly impacted the cryptocurrency’s value.

Court documents detailed how Council (aka Ronin and Agiantschnauzer) created a fake identification card using the personal information (PII) of a victim, which he obtained from others involved in the conspiracy. This fake ID was then used to conduct a SIM swap attack, which involves deceiving mobile phone carriers into transferring a victim’s phone number to a SIM card controlled by the attacker.

This allowed the conspirators to intercept two-factor authentication (2FA) codes intended for the SEC’s account, ultimately granting them unauthorized access. However, investigations later revealed that the SEC’s X account did not have 2FA enabled at the time of the hack, making it easier for the attackers.

As Hackread.com reported at the time, the SEC’s X account was then manipulated by Council’s co-conspirators with a fabricated announcement claiming that the SEC chairman Gary Gensler had approved Bitcoin Exchange Traded Funds (ETFs).

This unauthorized tweet from the official @SECGov handle a day before the anticipated decision caused significant confusion and volatility in the cryptocurrency market. It gained 1 million views and raised bitcoin price to over $1000 per BTC. However, the gain was short-lived as the SEC clarified the false information 15 minutes later, causing Bitcoin’s price to decline by over $2000 per BTC.

US Attorney Jeanine Pirro for the District of Columbia strongly condemned such actions, emphasizing that “Schemes of this nature threaten the health and integrity of our market system.” She also warned that perpetrators “will be caught, prosecuted, and will pay the price for the damage your actions create.”

Further investigation revealed that Council received approximately $50,000 for his role in the SIM-swapping attack. Following a search of his residence in June 2024, the FBI discovered the fake ID card, a portable ID card printer, and a laptop containing incriminating internet searches related to the “SECGOV hack” and “telegram sim swap.”

Despite setting his chats to delete after two weeks, messages discussing SIM swap hacks with people likely living outside the US were found. Nevertheless, this case shows the real-world consequences of cybercrime and the importance of employing fail-proof security measures for all organizations, including government agencies.