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A hacker who gained access to the company's servers and stole more than $37 million in cryptocurrency from nearly 600 victims pleaded guilty to conspiracy to commit wire fraud and money laundering.
The criminal, Evan Frederick Light of Indiana, USA, hacked into the computer servers of an investment company to illegally gain access to customer information and used it to steal cryptocurrency from customers who owned such assets in the company, the US Department of Justice said. Statement of October 1.
Light then funneled the funds from the "cyber intrusion" through cryptocurrency mixers and gambling sites to hide his identity and hide the funds.
Light pleaded guilty on September 30 - and faces up to 20 years in prison on each charge, in addition to three years of parole and a potential fine. Restitution and confiscation of property are also possible.
The now-convicted felon was indicted in South Dakota on June 15, 2023. Light initially pleaded not guilty to the indictment.
In this complaint, the Department of Justice stated that the crimes were committed between 2021 and May 2023, and Light acted with at least one other unknown perpetrator.
Related: Rise in Cryptocurrency-Related Crime in Australia Prompts Call for Tighter Regulation
The Department of Justice has stated loud and clear that it intends to catch every cybercriminal within its reach:
"While this defendant was trying to hide in the shadows of the cybercriminal world, he was not beyond the reach of our team," the Department of Justice explained.
"Today's convictions should serve as a reminder that this Office and its law enforcement partners will hold cybercriminals accountable, no matter how sophisticated their crimes may be".
The U.S. Federal Bureau of Investigation's Internet Crime Complaint Center reported that Americans lost $5.6 billion to cryptocurrency fraud in 2023 — a 45% increase from 2022. In 2023, the FBI received about 69,000 complaints related to cryptocurrencies, among which people over 60 were the most affected. More than 70% of cryptocurrency scams were related to investment schemes, and 10% were related to call center scams and government impersonation scams.
• Source: https://www.justice.gov/usao-sd/pr/...cies-involving-cyber-intrusion-and-37-million
• Source: https://www.justice.gov/usao-sd/pr/...-wire-fraud-and-money-laundering-conspiracies
The criminal, Evan Frederick Light of Indiana, USA, hacked into the computer servers of an investment company to illegally gain access to customer information and used it to steal cryptocurrency from customers who owned such assets in the company, the US Department of Justice said. Statement of October 1.
Light then funneled the funds from the "cyber intrusion" through cryptocurrency mixers and gambling sites to hide his identity and hide the funds.
Light pleaded guilty on September 30 - and faces up to 20 years in prison on each charge, in addition to three years of parole and a potential fine. Restitution and confiscation of property are also possible.
The now-convicted felon was indicted in South Dakota on June 15, 2023. Light initially pleaded not guilty to the indictment.
In this complaint, the Department of Justice stated that the crimes were committed between 2021 and May 2023, and Light acted with at least one other unknown perpetrator.
Related: Rise in Cryptocurrency-Related Crime in Australia Prompts Call for Tighter Regulation
The Department of Justice has stated loud and clear that it intends to catch every cybercriminal within its reach:
"While this defendant was trying to hide in the shadows of the cybercriminal world, he was not beyond the reach of our team," the Department of Justice explained.
"Today's convictions should serve as a reminder that this Office and its law enforcement partners will hold cybercriminals accountable, no matter how sophisticated their crimes may be".
The U.S. Federal Bureau of Investigation's Internet Crime Complaint Center reported that Americans lost $5.6 billion to cryptocurrency fraud in 2023 — a 45% increase from 2022. In 2023, the FBI received about 69,000 complaints related to cryptocurrencies, among which people over 60 were the most affected. More than 70% of cryptocurrency scams were related to investment schemes, and 10% were related to call center scams and government impersonation scams.
• Source: https://www.justice.gov/usao-sd/pr/...cies-involving-cyber-intrusion-and-37-million
• Source: https://www.justice.gov/usao-sd/pr/...-wire-fraud-and-money-laundering-conspiracies
