In a startling revelation, Eric Council Jr., the SIM swap hacker implicated in the 2024 breach of the Securities and Exchange Commission’s (SEC) X account, reportedly made $50,000 from similar cybercrimes. Recent court filings have unveiled that Council not only executed the hack but also searched online for ways to determine if he was under FBI investigation, raising eyebrows about his level of awareness and preparation.
The notorious breach occurred on January 9, 2024, when Council, using forged identity documents, duped an AT&T employee into transferring a victim’s phone number to his own SIM card. This enabled him to access the SEC’s X account, where he and his co-conspirators posted a fraudulent announcement claiming approval for a spot Bitcoin exchange-traded fund (ETF). The post garnered over one million views before the SEC confirmed the hack a mere 15 minutes later, causing Bitcoin’s price to initially spike by $1,000 before plummeting nearly $2,000, resulting in significant market turmoil.
Council’s methods were as brazen as they were calculated. He marketed himself as a SIM swap expert on Telegram under the username “easymunny,” charging clients between $1,200 and $1,500 for his services. However, his luck ran out on June 12, 2024, when he was caught attempting another SIM swap at an Apple store, leading to a law enforcement investigation that uncovered incriminating evidence, including templates for fake IDs.
Having pleaded guilty to conspiracy and identity theft charges, Council now faces a two-year prison sentence. This incident underscores the vulnerabilities within cryptocurrency infrastructure and the pressing need for enhanced security measures, particularly in the realm of digital communications. As the crypto landscape continues to evolve, the SEC’s oversight and security protocols will likely come under increased scrutiny to prevent such breaches in the future.
