Indiana Man Pleads Guilty to $37M Crypto Theft
Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in...
A sophisticated cyber theft operation targeting crypto has resulted in a guilty plea from 21-year-old man named Evan Frederick Light of Lebanon, Indiana.
The cybercriminal was involved in stealing over $37 million in cryptocurrency from nearly 600 victims.
Light’s plea to charges of conspiracy to commit wire fraud and conspiracy to launder monetary instruments was entered on September 30, 2024.
The U.S. Department of Justice (DOJ) confirmed Light’s involvement in a 2022 cyber intrusion into the servers of a South Dakota-based investment firm.
Using stolen personal information, Light and an unnamed accomplice infiltrated the firm’s systems, gaining access to the private cryptocurrency accounts of hundreds of clients.
Over the course of the operation, Light managed to steal millions in cryptocurrency, which he subsequently laundered through various means, including cryptocurrency mixing services and gambling websites.
The operation began in February 2022, when Light targeted an investment holdings firm in Sioux Falls, South Dakota.
Posing as a real client, Light gained unauthorized access to the company’s servers.
Once inside, he exfiltrated personal identifiable information (PII) from the firm’s database, allowing him to infiltrate the cryptocurrency accounts of nearly 600 victims.
Over $37 million in digital assets were stolen, which exploited the decentralized and relatively anonymous nature of cryptocurrency transactions.
To cover his tracks, Light employed several techniques commonly used by cybercriminals.
He utilized
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