Eric Council Jr., a 25-year-old from Alabama, has been sentenced to 14 months in prison for using a SIM swap attack to gain unauthorized access to the U.S. Securities and Exchange Commission (SEC)’s X account. This hacking incident resulted in a temporary spike of Bitcoin’s market value following a false announcement of Bitcoin ETF approval, highlighting the vulnerabilities within telecom security and social media accounts managed by regulatory bodies. Council profited approximately $50,000 from these schemes. While primarily impacting Bitcoin, no widespread market effects were reported. The SEC is committed to accountability for those who exploit technology for financial gain, as emphasized by U.S. Attorney’s Office for the District of Columbia. Regulatory responses included a press release from the U.S. Department of Justice but no new policies have been implemented. The incident underscores the need for increased security measures across telecom and social media platforms to prevent similar breaches in the future.