An American citizen is accused of a multimillion-dollar cryptocurrency mining fraud.
The US Department of Justice (DOJ) claimed that a citizen engaged in mining worth millions via cryptojacking, involving money laundering and other crimes.
The court files indicated that the person, Charles O. Parks, stole a $3.5 million cloud computing service through cryptojacking and attempted $1 million worth of crypto mining. The individual was reported to have planned mining activities specifically for Ethereum, Monero, and Raveincoin.
The details from the DOJ’s statement alleged that Parks deceived two “reputable” cloud computing providers and engaged in money laundering and illegal financial transactions. The suspect is set to appear before the first federal court on April 16 and could face 20 years in prison.
Cryptojacking involves using someone else’s computer power to mine cryptocurrencies for oneself.
FBI Deputy Director Smith, who commented on the matter, signaled the bureau’s commitment to consistently combating cryptocurrency crimes:
Charles Parks, also known as CP3O, allegedly developed a cryptocurrency mining scheme to fraudulently obtain millions from major cloud service providers and illicitly mine approximately $1 million in crypto for personal use. Criminals are becoming increasingly adept at manipulating digital tools and hiding behind advanced technology, often causing significant financial harm to their victims. The FBI is committed to resolutely pursuing those who seek to innovate in committing crimes.
