Indiana Hacker Pleads Guilty to Stealing $37M in Cryptocurrency

Last Updated on October 2, 2024

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Key Takeaways:

  • Evan Frederick Light pleaded guilty to stealing over $37M in cryptocurrency from nearly 600 victims, facing up to 20 years in prison.
  • Light used crypto mixers and gambling platforms to conceal the stolen funds, but was caught and indicted by the DOJ.
  • The DOJ highlighted a broader rise in crypto fraud, with U.S. losses reaching $5.6B in 2023, largely tied to investment scams.

Evan Frederick Light, an Indiana hacker, faces up to 20 years in prison for stealing over $37 million in cryptocurrency from nearly 600 victims.

Light accessed the servers of an investment firm and used the stolen data to siphon cryptocurrencies, later attempting to obscure the theft through crypto mixers and gambling platforms.

He pleaded guilty on Sept. 30 to charges including conspiracy to commit wire fraud and money laundering, after initially pleading not guilty in June 2023.

Light committed the crimes between 2021 and May 2023, working with at least one unidentified accomplice.

The U.S. Department of Justice emphasized its dedication to pursuing cybercriminals, stating that Light could not evade justice despite his complex schemes.

This case highlights a broader trend, with the FBI reporting a 45% rise in cryptocurrency fraud in 2023, totaling $5.6 billion in losses, largely due to investment scams.

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Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

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