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Eric Council, an Alabama man, has pleaded guilty to hacking the SEC’s X account and posting a fraudulent announcement regarding a Bitcoin ETF approval. This false post triggered a market meltdown, resulting in losses estimated at $220 million. Council's actions have led to potential sentencing of up to five years in prison. Additionally, two Estonian nationals, Sergei Potapenko and Ivan Turõgin, have also pleaded guilty in a separate case involving a $577 million cryptocurrency fraud scheme that affected hundreds of thousands of victims globally, including in the United States.
Two Estonian nationals have pleaded guilty to a massive $577 million cryptocurrency scheme that reached as far as western Washington. https://t.co/PFAFkZLxS2
🚨🇺🇸🇪🇪ESTONIAN DUO PLEADS GUILTY IN $577M CRYPTO FRAUD Sergei Potapenko and Ivan Turõgin, just pleaded guilty to running a massive cryptocurrency fraud through their company, HashFlare, scamming hundreds of thousands of people worldwide, including in the U.S. They promised… https://t.co/2GA6IYy6C1
Two Estonian Nationals Plead Guilty in $577M Cryptocurrency Fraud Scheme Scheme Victimized Hundreds of Thousands of People in United States and Abroad 🔗: https://t.co/hsedkgnOtN https://t.co/SsSChivnXv
