A 21-year-old from Indiana has pleaded guilty to cyber intrusion and cryptocurrency theft in a massive scheme targeting hundreds of victims. His actions involved stealing personal data and cryptocurrency worth over $37 million, with law enforcement crediting significant investigative efforts for his capture.
FBI Cracks Global Cryptocurrency Theft Network
The U.S. Department of Justice (DOJ) announced on Tuesday that Evan Frederick Light, a 21-year-old from Lebanon, Indiana, pleaded guilty to cyber intrusion and cryptocurrency theft charges. He faced counts of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. The case carries a maximum penalty of 20 years per charge, and a sentencing date is pending.
Light’s crimes occurred during a February 2022 cyber-intrusion involving an investment holdings company in South Dakota. The DOJ detailed:
During the cyber-intrusion, Light stole customer personal identifiable information (‘PII’) and then stole cryptocurrency worth over $37 million from nearly 600 victims. He acted with one or more unidentified perpetrators.
U.S. Attorney Alison J. Ramsdell commended the efforts of law enforcement, saying, “These convictions reflect the relentless efforts of the U.S. Attorney’s Office and the FBI in identifying a cybercriminal, holding him accountable, and prioritizing the victims of his crimes.”
Light accessed the company’s servers using stolen client identities and exfiltrated data to steal cryptocurrencies. The Justice Department stated:
After successfully accessing the computer servers, he then exfiltrated from the servers the PII of hundreds of other clients, using this access to steal virtual currencies from the clients who held such assets with the investment holdings company.
According to the FBI, Light funneled the stolen funds globally. The DOJ explained: “The stolen cryptocurrency, under Light’s control, was then funneled to various locations throughout the world, including multiple mixing services and gambling websites to conceal his identity and to hide the virtual currency.”
Source: Bitcoin
