According to Cointelegraph, Eric Council Jr., accused of hacking the United States Securities and Exchange Commission's X account in January, has been permitted to travel for the holidays. A recent court filing on December 13 by Judge Amy Berman Jackson of the US District Court for the District of Columbia allows Council to travel to North Carolina with a third-party custodian from December 23 to December 29. The judge stipulated that Council must provide Pre-Trial Services with his detailed itinerary and accommodation information at least two business days before his travel.
Council has pleaded not guilty to charges related to hacking the SEC's X account on January 9, where he allegedly posted a false message claiming the approval of spot Bitcoin (BTC) exchange-traded funds (ETFs). This message, which included a fabricated quote from SEC Chair Gary Gensler, caused a temporary market upheaval before the SEC officially approved the investment vehicles approximately 24 hours later. The misleading post has since been deleted.
The Federal Bureau of Investigation arrested Council in Alabama on October 17. He faces charges of conspiracy to commit aggravated identity theft and access device fraud, to which he has pleaded not guilty. As of now, a trial date has not been set, but the judge indicated that a plea agreement could be filed by January 17, requiring Council's in-person court appearance.
Prior to the alleged hacking incident, there was significant anticipation within the crypto industry regarding the SEC's decision on allowing US exchanges to list spot ETFs linked to Bitcoin. Authorities claim that Council was part of a group that executed a SIM swap attack to gain control of the SEC's X account, leading to a brief surge in Bitcoin's price by over $1,000. Following the hack, it was reported that the SEC's X account lacked two-factor authentication. The commission did not report any issues with its social media accounts in May when it approved spot Ether (ETH) exchange-traded products.
