Indiana Man Pleads Guilty to Stealing Over $37,000,000 in Crypto From Nearly 600 Victims: US Justice Department

A 21-year-old man from Indiana just pleaded guilty to charges stemming from a cyber intrusion event that happened in February 2022.

Malicious actors involved in cyber intrusion use phishing, email infection, SQL injection and other means to gain access to computer systems with the aim of causing harm or stealing sensitive data.

The US Department of Justice (DOJ) says that Evan Frederick Light illegally obtained the personal identifiable information (PII) of one of the clients of a South Dakota-based investment holding company.

He then used this information to compromise the company’s computer servers and unlawfully access the PIIs of hundreds of other clients. He eventually stole over $37 million worth of crypto assets from 600 victims who held funds with the investment holding company.

Light used mixing services and gambling websites to conceal his identity and hide the stolen assets.

Says  U.S. Attorney Alison J. Ramsdell,

“Although this defendant tried to hide in the shadows of a cyber underworld, he was not beyond the reach of our team, and today’s guilty verdicts should serve as a reminder that this Office and its law enforcement partners will bring cyber criminals to justice, regardless how sophisticated their crimes may be.”

Light was charged with conspiracy to commit wire fraud and conspiracy to launder monetary instruments. The DOJ says he committed the crime with one or more unidentified perpetrators.

Generated Image: Midjourney