The US government has recommended a two-year sentence for Eric Council Jr., the individual who played a role in posting a fake message claiming the SEC approved Bitcoin exchange-traded funds (ETFs). The false announcement, made through the SEC’s X account and shared on the social media platform, led to market volatility before the SEC formally approved spot Bitcoin ETFs. This incident has raised concerns about cybersecurity threats to regulatory accounts, leading to a series of investigations. Council is scheduled to appear before Judge Amy Berman Jackson for sentencing, after his plea of guilty for participating in a SIM swap attack that resulted in gaining control over the SEC’s X account.