A man from Indiana has admitted to participating in a 'cyber intrusion' that targeted a financial services company based in Sioux Falls, South Dakota. Evan Light, 21, and his accomplices hacked into the company's servers, stole sensitive customer information, and made off with nearly $38 million in cryptocurrency from 571 victims.
According to the plea agreement, Light and his co-conspirators gained unauthorized access to the company's servers by stealing a client's identity. They then used this information to carry out the theft. Afterward, Light admitted to laundering the stolen funds through various mixing services and online gambling sites to conceal his identity and that of his co-conspirators. He also pleaded guilty to wiring the proceeds and storing them in a cold wallet under his control.
The U.S. Attorney, Alison Ramsdell, stated that these convictions demonstrate the U.S. Attorney's Office and the FBI's tireless efforts to identify and hold cybercriminals accountable, while prioritizing the victims of their crimes.
The theft occurred in February 2022, and the FBI raided Light's residence in May 2023, about two weeks after he was indicted by a grand jury for conspiracy to commit wire fraud and conspiracy to launder monetary instruments. Both charges carry a maximum sentence of 20 years, meaning Light could face up to 40 years in prison. A sentencing date has not been set yet.