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The U.S. prosecution recommends a two-year prison sentence for the SEC Hacker Council.
U.S. prosecutors recommended to the District Court for the District of Columbia on May 12 that Eric Council Jr. be sentenced to two years in prison for controlling the SEC's X account through a SIM swap attack in 2024 and publishing false news that "the SEC has approved a spot bitcoin ETF," according to Golden Finance. "This case should be punishable by a custodial sentence within the guidance sentencing," the prosecution said, noting that the defendants engaged in sophisticated fraud by forging identity documents, misleading communication shops and transmitting password reset codes to accomplices. The Council has pleaded guilty and will appear in court on May 16 to hear the verdict.