Eric Council Jr., the hacker suspected of hacking into the Securities Exchange Commission's (SEC) social media accounts and posting content, could be fined $50,000 in a plea deal that US law enforcement agencies are understood to have offered him to pay $50,000 of his "personal income." In January 2024, Council took control of the X account of the Securities Exchange Commission (SEC) through a SIM card exchange attack, and subsequently published false information claiming that SEC Chairperson Gary Gensler had approved a spot bitcoin ETF.