SEC hacking suspect permitted holiday travel by court

Eric Council Jr., accused of hacking the U.S. Securities and Exchange Commission’s (SEC) X account earlier this year, has been granted permission to travel to North Carolina for the holidays under strict conditions.

Council is alleged to have hacked the SEC’s X account in January, posting a fraudulent message claiming the approval of Bitcoin (CRYPTO:BTC) exchange-traded funds (ETFs).

The false post, attributed to SEC Chair Gary Gensler, briefly caused Bitcoin prices to surge by over $1,000 before being debunked.

Arrested in Alabama on October 17, Council pleaded not guilty to charges of conspiracy to commit aggravated identity theft and access device fraud.

Authorities claim he executed the hack using a SIM swap attack to gain control of the SEC’s account.

Judge Amy Berman Jackson approved Council’s travel request, requiring him to provide a detailed itinerary to Pre-Trial Services at least two business days before his departure.

The judge also noted that a plea agreement could potentially be filed by January 17, 2025, with a court appearance required if no deal is reached.

The SEC’s cybersecurity practices came under scrutiny following the hack, as the account reportedly lacked two-factor authentication.

While the oversight has since been addressed, the case remains unresolved, and no trial date has been set.

Council faces significant legal consequences for his role in the high-profile incident, which unfolded during heightened anticipation around the SEC’s stance on spot Bitcoin ETFs.