The U.S. Department of Justice (DOJ) announced that a man has pleaded guilty to charges related to a large-scale cryptocurrency theft worth over $37 million.
US Authorities Capture 21-Year-Old Who Stole $37 Million in Cryptocurrency
Evan Frederick Light, 21, of Lebanon, Indiana, appeared in federal court on September 30, 2024, where he pleaded guilty to charges of conspiracy to commit fraud and money laundering.
The charges stem from a cyberattack that Light carried out in February 2022. Targeting an investment holding company in Sioux Falls, South Dakota, Light and his accomplices stole customers’ personally identifiable information (PII) and then siphoned off cryptocurrencies from nearly 600 victims, totaling more than $37 million in theft.
U.S. Attorney Alison J. Ramsdell noted the significance of the conviction, saying:
“These convictions reflect the relentless efforts of the U.S. Attorney’s Office and the FBI to identify a cybercriminal, hold him accountable, and prioritize the victims of his crimes. Although this defendant attempted to hide in the shadows of the cyber underworld, he was not beyond our team’s reach.”
The charges carry harsh penalties, including up to 20 years in prison for each count, heavy fines and three years of supervised release. Compensation for the victims may also be ordered by the court.
FBI Minneapolis Special Agent in Charge Alvin M. Winston Sr. expressed the Justice Department’s commitment to combating cybercrime, saying:
“Cyberattacks pose a serious threat to both individuals and businesses, and we are dedicated to protecting the public from these sophisticated attacks. The FBI will continue to work with our partners to ensure that those who exploit technology for financial gain are held accountable.”
*This is not investment advice.
