Indiana Man Pleads Guilty to Stealing $37M in Cryptocurrency from 600 Victims: DOJ

A 21-year-old from Indiana has pleaded guilty to a massive cyber intrusion that resulted in the theft of over $37 million in cryptocurrency from nearly 600 victims. He accessed personal data through hacking methods and used mixing services to conceal his identity. The U.S. Department of Justice announced the verdict as part of its crackdown on cybercriminals.

A 21-year-old Indiana man, Evan Frederick Light, has pleaded guilty to charges related to a large-scale cyber intrusion event, according to the U.S. Department of Justice (DOJ). The incident, which occurred in February 2022, resulted in the theft of more than $37 million in cryptocurrency from nearly 600 victims.

Light used a range of hacking techniques, including phishing, SQL injections, and other malicious methods to gain access to the computer systems of a South Dakota-based investment holding company. He initially obtained the personal identifiable information (PII) of one client, which allowed him to infiltrate the company’s servers and compromise the data of hundreds of other clients. With this data in hand, Light was able to steal large sums of cryptocurrency from their accounts.

To hide his identity and the stolen assets, Light utilized mixing services and gambling websites to launder the funds. The DOJ confirmed that Light acted with at least one other unidentified individual in carrying out the crime.

A DOJ representative stated: “Although this defendant tried to hide in the shadows of a cyber underworld, he was not beyond the reach of our team. Today’s guilty verdict serves as a reminder that this Office and its law enforcement partners will bring cybercriminals to justice, regardless of how sophisticated their crimes may be.”

Light faces charges of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. The DOJ continues to investigate and pursue those responsible for these types of cybercrimes.

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