Brooklyn US Attorney’s Office announced on April 15th that Charles O. Parks III, also known as “CP3O”, defrauded two cloud computing providers of $3.5 million and mined cryptocurrencies worth $970,000, including Ethereum, Litecoin, and Monero. He used the resources of the two companies for mining without paying for them.
According to the indictment, he devised payments to avoid reporting transfers over $10,000 as required by federal law. Prosecutors found that Parks transferred amounts of $9,999 or smaller multiple times from cryptocurrency exchanges to bank accounts. He used the proceeds to purchase luxury items, including a Mercedes-Benz, jewelry, and “first-class hotel and travel expenses.” He faces a maximum sentence of 50 years in federal prison and is scheduled to appear in federal court in Omaha on April 16th.
Tags:
Ethereum
Cryptocurrency
Source Link:
https://cointelegraph.com/news/cryptojacking-scheme-stole-cloud-services-mine-…
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Original Article Link:
https://www.bitpush.news/articles/6613437
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