US Government Requests 2-Year Sentence for Eric Council Jr.
The US government proposed a 2-year prison sentence for Eric Council Jr., who posted a fake message announcing SEC approval of Bitcoin ETF funds. In a May 12 filing in the District of Columbia Court, prosecutors asked Judge Amy Berman Jackson to sentence Council to 2 years in prison for posting on the X platform that caused market turmoil. The fake message appeared before the Bitcoin fund was actually approved, leading to Council's arrest.
US prosecutors emphasized: "This case deserves a prison sentence according to guidelines. The defendant profited from a sophisticated fraud scheme, involving fake documents, telecommunications fraud, and password reset transmission to accomplices in the US and abroad."
Council's legal team has not yet responded to the sentencing recommendation. The hearing is scheduled for May 16. Council has pleaded guilty to participating in the group that hijacked the SEC's X account through a SIM swap attack, posting a fake message about Bitcoin ETF approval.
Amid confusion from the fake message, Bitcoin's price increased by over $1,000 before the SEC Chairman refuted the incorrect content. This case and others are supervised by individuals appointed by former President Trump, in a context where the US is adjusting its approach to cryptocurrency-related crimes.
The exact impact of Trump on cryptocurrency criminal cases remains unclear, despite his relationship with the industry and cryptocurrency ownership. This information is not intended to provide investment advice.
