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Eric Council Jr., a 25-year-old from Alabama, was arrested in October for his role in the hack of the SEC’s X account.

The man faces a maximum penalty of five years in prison.

An Alabama resident on Monday confessed to hacking the SEC’s X account and posting a fake Bitcoin (CRYPTO: BTC) exchange-traded fund approval message, causing millions of dollars in market losses.

Eric Council Jr. from Alabama has pleaded guilty to being a co-conspirator in the unauthorized takeover of the US Securities ...