- Hacker Evan Frederick Light admitted to wire fraud and money laundering, involving theft of $37 million from an investment firm’s clients.
- Light accessed company servers to steal customer information and laundered funds through crypto mixers and gambling websites.
- U.S. authorities reaffirm commitment to prosecuting cybercriminals despite sophisticated methods used to conceal illicit activities.
A hacker from Indiana, identified as Evan Frederick Light, has pleaded guilty to charges involving the theft of more than $37 million in cryptocurrency. According to the United States Department of Justice, Light accessed the computer servers of an investment firm without permission, stealing customer information that he used to target nearly 600 victims. The charges against Light include conspiracy to commit wire fraud and money laundering.
The Department of Justice noted that Light concealed his activities by funneling the stolen cryptocurrency through crypto mixers and online gambling platforms. These methods were intended to hide both his identity and the origin of the funds. The offenses occurred between 2021 and May 2023, with authorities noting that Light acted alongside at least one other unidentified individual. He initially entered a not-guilty plea after being charged in South Dakota on June 15, 2023, but later admitted to the crimes on September 30. Light now faces up to 20 years in prison for each charge.
DOJ’s Commitment to Combatting Cybercrime
The Department of Justice emphasized its determination to pursue cybercriminals, regardless of the tactics they use to hide. Officials stated that Light’s efforts to remain anonymous did not protect him from the reach of law enforcement. The agency also highlighted that the conviction serves as a clear warning to those involved in similar crimes, affirming that sophisticated offenses will still face consequences.
“Although this defendant tried to hide in the shadows of a cyber underworld, he was not beyond the reach of our team,” the DOJ stated in its remarks, pointing to its dedication to investigating and prosecuting such criminal activities.
FBI Reports Rising Crypto Fraud
The case against Light highlights a broader trend of increasing cryptocurrency fraud. In 2023, the Federal Bureau of Investigation’s Internet Crime Complaint Center reported that Americans lost a total of $5.6 billion due to cryptocurrency-related fraud, reflecting a 45% increase from 2022. The agency received approximately 69,000 complaints, with older adults particularly affected by these scams. Most of the reported losses, over 70%, were linked to fraudulent investment schemes, while other common forms of fraud included call-center scams and impersonation of government officials.
