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- Dear Gate Post users, we’re excited to announce a brand-new upgrade to our user interface! The new version is simpler, smoother, and packed with many thoughtful new features. Update now and explore what's new! What do you think of the new Gate Post experience? Which features do you like most? Have you noticed any surprises or improvements? Share your experience now to split a $50 prize pool!
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- 🚀 Gate.io #Launchpad# Initial Offering: #PFVS#
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⏰ Event Period: May 8, 8:00 AM – May 18, 6:00 PM (UTC)
Hacker SEC strikes back with a shocking 366-day sentence.
The defense attorney requested the judge to impose a prison sentence of about one year for Eric Council Jr., who was involved in posting a fake message about the approval of the Securities and Exchange Commission (SEC) for the Bitcoin exchange-traded fund (ETF). Council's legal team filed a motion in the District Court of Columbia on May 13, proposing a sentence not exceeding one year and one day in prison after he pleaded guilty. Council was once a member of the SEC's account X control group through a SIM swap attack in 2024, posting a message claiming that the agency had first approved the listing of the Bitcoin spot ETF.
The record dated May 13 states: "A sentence of one year and one day meets justice, enough to punish the defendant and deter future criminal acts." Initially, the Council denied but later pleaded guilty in February to charges of conspiracy to commit serious identity theft and access device fraud. Judge Amy Berman Jackson has ordered the prosecution to identify the charges and point out the information in the record before May 13.
The prosecutor has recommended a two-year sentence for Council, arguing that he "profited from a sophisticated fraud scheme." Court records show that Council earned about $50,000 from similar SIM swap attacks. Although Council's trial seems to be nearing its end, the District of Columbia may soon have a change in leadership, which could affect the prosecution of cryptocurrency-related cases. On May 8, President Donald Trump announced that Jeanine Pirro would become the acting district attorney.
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