From Cointelegraph

May 12, 2025 5:51 pm:

The US government recommends a two-year prison sentence for Eric Council Jr., who helped post a fake message about Bitcoin ETF approval through the SEC’s X account. Prosecutors cited a sophisticated fraud scheme involving false documents and misrepresentations. Council’s sentencing is set for May 16.

Council pleaded guilty to a SIM swap attack that allowed hackers to control the SEC’s social media account. The fake message about Bitcoin ETF approval caused market turmoil until the SEC confirmed the news the next day. The incident raised questions about the SEC’s stance on spot BTC investment vehicles.

President Trump appointed interim leaders for key US Attorney positions, including the Eastern District of New York and the Southern District of New York. This leadership change could impact the Justice Department’s handling of criminal cases involving digital assets. In a separate case, a former Celsius CEO received a 12-year prison sentence after a guilty plea.

Read more at Cointelegraph: US Prosecutors recommend 2 years for SEC hacker