A hacker who infiltrated a company’s computer servers and stole more than $37 million in cryptocurrency from almost 600 victims has pleaded guilty to charges of conspiracy to commit wire fraud and money laundering.

The United States Department of Justice said on Oct. 1 that Evan Frederick Light of Indiana unlawfully accessed the computer servers of an investment firm to steal customer information. He then used the data to steal cryptocurrencies from clients who had digital assets with the company.

Light then funneled funds from the “cyber-intrusion” through crypto mixers and gambling websites to conceal his identity and to hide the funds.

Light pleaded guilty on Sept. 30 and faces up to 20 years behind bars for each charge.

The now-convicted criminal was charged in South Dakota on June 15, 2023, and initially pleaded not guilty.

The DOJ said in the complaint that the crimes were committed between 2021 and May 2023, and Light acted with at least one other unidentified perpetrator.

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The DOJ sent a strong message that it is determined to a pprehend every cybercriminal .

“Although this defendant tried to hide in the shadows of a cyber underworld, he was not beyond the reach of our team,” the DOJ said. 

“Today’s guilty verdicts should serve as a reminder that this Office and its law enforcement partners will bring cyber criminals to justice, regardless how sophisticated their crimes may be.”

The US Federal Bureau of Investigation Internet Crime Complaint Center reported that Americans lost $5.6 billion from cryptocurrency fraud in 2023, up by 45% from 2022.

The FBI received about 69,000 crypto-related complaints in 2023, with people over 60 among the most-victimized. More than 70% of the crypto fraud was related to investment schemes, while 10% involved call-center fraud and government-impersonation scams.

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