A court has allowed Eric Council, accused of cyberattacking the SEC account, to travel during the holiday period with the condition of providing an itinerary.
Travel Conditions for the Defendant
In a December filing, Judge Amy Berman Jackson allowed Eric Council to travel to North Carolina with a third-party custodian from December 23 to 29. He must provide Pre-Trial Services with his precise itinerary and lodging information at least two business days before the trip.
Charges Against Eric Council
Council pleaded not guilty to hacking the SEC account in January and posting fake news about approved Bitcoin ETFs. The message, including a quote from SEC Chair Gary Gensler, caused market turbulence before the official approval of these investment vehicles 24 hours later.
Background of the SEC Incident
Before Council's alleged actions, many were anticipating a decision from the SEC on the approval of spot Bitcoin ETFs. US authorities claimed Council was part of a group that took control of the SEC’s account via a SIM swap attack, leading to a brief spike in BTC price by over $1000. X’s safety team noted the SEC’s lack of two-factor authentication following the incident.
While a trial date for Council has not been set, parties can file a plea agreement by January 17, when Council must appear in court in person.
