A 21-year-old man has admitted guilt in a federal court to charges connected to a significant cryptocurrency theft exceeding $37 million, as announced by the U.S. Department of Justice (DOJ).
Evan Frederick Light from Lebanon, Indiana, entered his plea on September 30, 2024, facing accusations of conspiracy to commit fraud and money laundering.
The charges relate to a cyberattack orchestrated by Light in February 2022. He targeted an investment holding firm in Sioux Falls, South Dakota, stealing sensitive personal information from nearly 600 victims, which enabled him and his co-conspirators to misappropriate substantial amounts of cryptocurrency, totaling more than $37 million.
U.S. Attorney Alison J. Ramsdell highlighted the importance of this conviction, stating that it showcases the unwavering efforts of the U.S. Attorney’s Office and the FBI in bringing cybercriminals to justice and supporting their victims. She noted, “Even though this defendant tried to conceal himself in the depths of the cyber underworld, he was not beyond the reach of our team.”
The charges carry severe consequences, with potential penalties including up to 20 years in prison for each count, substantial fines, and three years of supervised release. The court may also require restitution for the victims.
Alvin M. Winston Sr., the FBI’s Special Agent in Charge for Minneapolis, reiterated the agency’s commitment to fighting cybercrime. He stated, “Cyberattacks represent a significant threat to individuals and businesses alike, and we are dedicated to safeguarding the public from these advanced threats. The FBI will persist in collaborating with our partners to hold accountable those who misuse technology for financial gain.”
A former Bank of America employee has admitted to playing a role in an international money laundering network that funneled millions of dollars through fraudulent bank accounts, according to the U.S. Department of Justice (DOJ).
An international arrest warrant has been requested for Hayden Davis, co-creator of the LIBRA token, which became the center of a major political scandal in Argentina.
Chris Larsen, the co-founder of Ripple, suffered a significant financial blow in 2024 when he lost over $661 million worth of XRP due to a security breach in the password management system LastPass.
Venture capitalist and Mission Gate founder George Bachiashvili is now facing imprisonment in Georgia after a court revoked his bail.