It was reported earlier last month that multiple members of LulzSec had been arrested after one if its key members, Sabu, turned them over to the authorities. One of the hackers involved with LulzSec, Cody Kretsinger, has just entered a guilty plea in federal court in California.

Reuters is reporting that Kretsinger has reversed his not guilty plea after working out a deal with prosecutors. He was charged with taking part in the hack attack against Sony Pictures Entertainment which ended up costing the film studio over $600,000 in damages. The charges he pleaded guilty to were conspiracy and unauthorized impairment of a computer system.

According to the report, Kretsinger is likely to receive “substantially less than the 15-year maximum sentence he faces.” It’s still nothing compared to the 124-year sentence Sabu faces, but I’m sure his cooperation with the FBI will severely reduce that as well.

This is probably the least interesting news to come out LulzSec over the past month, however, as the events leading after Sabu’s betrayal revealed a potential conspiracy that would put Hollywood to shame. Anonymous released an Antisec timeline last month that recounted the steps of LulzSec. They found evidence that shows the entire Antisec movement perpetrated by Sabu to be an intricate FBI ruse to nab the other LulzSec members.

Of course, Anonymous isn’t a group that would let this go. They began to attack sites associated with the FBI or similar groups. They even began FuckFBIFriday in protest of the government agency.

All of this is to remind us that LulzSec is dead and Anonymous has moved on. At least that’s what people thought until a YouTube video showed up two weeks ago claiming to herald the return of LulzSec. It alludes to something called ProjectMayhem 2012, a movement that seeks to leak government and corporate info to cause as much chaos as possible.

Whether or not LulzSec is coming back, one thing is clear – the current LulzSec members are in some serious trouble. Other members of the group are most likely being presented with plea bargains as well.

We’ll keep you updated on any new developments in the LulzSec case. It’s promising to be just as interesting as the MegaUpload Saga.