A 21-year-old from Indiana pleaded guilty to a cyber intrusion scheme, stealing over $37 million in cryptocurrency and personal data.
In a massive scheme that targeted hundreds of victims, a 21-year-old from Indiana has pleaded guilty to cryptocurrency larceny and cyber intrusion. His actions included stealing confidential data and cryptocurrency valued at over $37 million. Law enforcement gave significant credit to their 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 resident of Lebanon, Indiana, has entered a plea of guilty to charges of cryptocurrency larceny and cyber intrusion.
He was charged with conspiracy to perpetrate wire fraud and conspiracy to launder monetary instruments. The utmost penalty for each charge is 20 years, and a sentencing date is currently pending.
During a cyber-intrusion in February 2022 that involved an investment holdings company in South Dakota, Light committed his offenses. The Department of Justice provided particulars:
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.
“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,” U.S. Attorney Alison J. Ramsdell commended the efforts of law enforcement.
Using stolen client identities, Light gained access to the company’s infrastructure and exfiltrated data in order to steal cryptocurrencies. In its statement, 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.
Light, according to the FBI, disbursed the stolen proceeds across the globe. The Department of Justice (DOJ) clarified that “the stolen cryptocurrency, which was under Light’s control, was subsequently directed to a variety of locations worldwide, including multiple mixing services and gambling websites, in order to conceal his identity and the virtual currency.”
