An Indiana hacker has pleaded guilty to charges of conspiracy to commit wire fraud and money laundering after stealing over $37 million in cryptocurrency. The hacker, Evan Frederick Light, infiltrated an investment firm's computer servers, gaining access to sensitive customer data, which he then used to steal digital assets from nearly 600 victims.
To cover his tracks, Light funneled the stolen funds through crypto mixers and gambling websites, making it difficult for authorities to trace. After initially pleading not guilty, Light changed his plea on September 30, 2024, and now faces up to 20 years in prison for each charge.
The U.S. Department of Justice (DOJ) emphasized its commitment to cracking down on cybercrime. “Despite his efforts to remain hidden in the cyber underworld, our team brought him to justice,” a DOJ representative stated. The DOJ also noted that Light had at least one accomplice who remains unidentified.
This case is part of a larger trend in cryptocurrency fraud. The FBI’s Internet Crime Complaint Center reported a 45% rise in crypto fraud in 2023, with Americans losing $5.6 billion. Most of these crimes involved investment schemes, with victims over the age of 60 being particularly targeted.
The DOJ’s pursuit of Light sends a clear message to other cybercriminals: no matter how sophisticated their methods, they will be held accountable.
Join our newsletter today to receive daily value-packed web3 intelligence reports, blending LLM systems with human intelligence. Free users enjoy a lite version, while paid subscribers get full access. Check it out for free.