BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

Hacker Pleads Guilty to Stealing $37 Million in Crypto: Here is How He Did It

Matoy by Matoy
October 2, 2024
in BREAKING NEWS, BUSINESS, SOCIAL
Reading Time: 2 mins read
1
SHARES
17
VIEWS
Share on XShare in TelegramShare on Reddit
  • 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.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Hacker
TweetShareShare
Matoy

Matoy

If Matoy is not busy looking at the latest Web3 news, he's always in the kitchen cooking delicious meals for his family. He's also a competitive fighting game player and a car enthusiast

DON'T MISS THESE! HOT OFF THE PRESS

Chainlink Partners with Saudi Awwal Bank, Price Struggles to React
BUSINESS

Chainlink Partners with Saudi Awwal Bank, Price Struggles to React

September 17, 2025
Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know
BUSINESS

Polymarket SEC Filing Sparks Token Launch Speculation – Here’s What We Know

September 15, 2025
Tether Unveils USAâ‚®, Brings in Ex-Trump Adviser as CEO
BUSINESS

Tether Unveils USAâ‚®, Brings in Ex-Trump Adviser as CEO

September 13, 2025
PayPal Goes “All In” on HyperLiquid: Here is What Investors Need to Know
BUSINESS

PayPal Goes “All In” on HyperLiquid: Here is What Investors Need to Know

September 11, 2025
Ledger CTO Warns of Large-Scale Crypto Hack Attack: What You Need to Do
BUSINESS

Ledger CTO Warns of Large-Scale Crypto Hack Attack: What You Need to Do

September 8, 2025
Banks May Say No, But XRP Still Has Big Ways to Succeed—Find Out How
BUSINESS

Banks May Say No, But XRP Still Has Big Ways to Succeed—Find Out How

September 7, 2025
Load More

Related News

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

September 17, 2025
How to Go From Zero to Your First Profitable Trade in Crypto (2025)

How to Go From Zero to Your First Profitable Trade in Crypto (2025)

September 17, 2025
What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

September 17, 2025
Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

September 17, 2025
What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

September 17, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews