A US hacker accused of stealing $37 million from 600 crypto investors pleaded guilty. He was charged for his actions in June 2023 but only accepted the charges now.
Evan Frederick Light pleaded guilty on September 30 to the charges brought against him by the US Department of Justice (DoJ) for his role in stealing $37 million in cryptocurrencies. The DoJ accused the hacker in 2023 of breaking into an investment firm’s servers and accessing the private data of its clients to siphon away funds from at least 600 victims. He allegedly committed these crimes between 2021 and 2023—until the authorities were on to him.
The charges brought against the Light include conspiracy to commit wire fraud and launder monetary instruments and they carry a sentence of up to 20 years in prison for each of them. Additionally, the hacker possibly faces up to three years of supervised release, fines, and restitution to victims.
“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,” mentioned US 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, only 21, used his knowledge of blockchain tech to indulge in criminal antics. He also utilized crypto mixers, tumblers, and gambling platforms to obfuscate his on-chain footsteps and evade authorities. Nevertheless, he was caught. Light initially pleaded not guilty to the charges when brought but has now changed his tone. The DoJ has also mentioned one or more “unidentified” perpetrators complementing Light in his crimes.
Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis said, “The FBI will continue to work alongside our partners to ensure that those who exploit technology for financial gain are held accountable, no matter how complex or far-reaching their schemes may be.”
The FBI’s Internet Crime Complaint Centre stated previously that US citizens lost $5.6 billion to cybercriminals in 2023. 69,000 complaints were registered that year, with a large chunk of those brought by senior citizens—a group of people cybercriminals often target.
