Alabama Man convicted of Hacking SEC social media to set fake bitcoin ETF News

The 26-year-old Alabama man was sentenced for more than a year in prison for his role in Haku Social Media, which briefly sent the price of Bitcoin

Grosenje.

Eric Tip Jr. Huntsville pleaded guilty of allegations in January 2024. Hack of AS Hartines AS Harties and Exchange KS Commission, according to the US Ministry of Justice announcement.

Referring to as a telecommunications buyer using a fake ID, advice used Replacement Technique for kidnapping the phone number related to the SEC account. His co-consistors were then used to falsely set the agency that the Bitcoin Bitcoin was approved by Bitcoin (ETFS), a long-awaited regulatory milestone.

Within a few minutes, the price of bitcoin increased more than $ 1,000. He soon crashed, losing more than $ 2,000 worth after the mail has discovered false. SEC did it later that month Approve the launch of Bitcoin ETFS.

Authorities say the Council was paid in Bitcoin because of his role. It will endure 14 months in prison, then three years of oversight release.

The Federal Prosecutors called an attack to calculate the attempted manipulation of financial markets. “The deliberate download of the official platform of the Federal Agency is calculated a criminal act intended for public criminal and manipulating financial markets,” said the actor director of the FBI Darren Cok. “With the spreading of false information to influence markets, the Council tried to handle public confidence and exploits the financial system”