Evan Frederick Light faces up to 20 years in prison for each of several charges, including conspiracy to commit wire fraud and money laundering.
A #Hacker who infiltrated corporate servers and stole more than $37 million in cryptocurrency from nearly 600 victims has admitted to #conspiracy charges related to wire #fraud and money laundering.
Crime Through Investment Company Servers
The United States Department of Justice announced on October 1st that Evan Frederick Light, from Indiana, illegally accessed the servers of an investment company to obtain sensitive customer information. He then used this data to steal cryptocurrency from clients who held digital assets with the firm.
Covering Tracks Using Crypto Mixers
Light attempted to cover his tracks by passing the stolen funds through #cryptocurrency mixers and gambling websites to hide his identity and obscure the flow of the money.
On September 30th, he pleaded guilty to the charges, facing up to 20 years in prison for each count.
Conviction and Collaboration with Another Offender
Light was charged on June 15, 2023, in South Dakota, where he initially denied his guilt. The Department of Justice stated that the crimes were committed between 2021 and May 2023. During these activities, Light collaborated with at least one other unidentified co-conspirator.
Strong Warning to Cybercriminals
The Department of Justice emphasized its commitment to apprehending #Cybercriminals . "Although this defendant tried to hide in the shadows of the cyber underworld, our team caught up with him," the department said. These charges serve as a reminder that cybercriminals, no matter how sophisticated, will be brought to justice.
Americans' Losses Due to Crypto Scams
According to an FBI report, Americans lost a total of $5.6 billion to cryptocurrency scams in 2023, a 45% increase from 2022. The FBI received approximately 69,000 complaints related to cryptocurrency that year. The most affected victims were those over the age of 60. Around 70% of the scams were linked to investment schemes, while 10% involved call center fraud or fake government agents.
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