An Indiana native has been convicted in a crypto heist worth millions of dollars, after pleading guilty. According to an announcement made by United States Attorney Alison Ramsdell, the Indiana native Evan Frederick Light, who resides in Lebanon, was convicted by Judge Roberto Lange. In the sentencing, Light was convicted of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. According to reports, the Indiana native was sentenced to 20 years in federal prison, with supervision to follow for three years after his release. He was found guilty of the allegations by a federal grand jury in March 2023, before pleading guilty in September of the same year. The 22-year-old has been ordered to pay a $200 special assessment to the Federal Victims Fund. In addition, he will pay restitution of about $37 million, with a hearing set at a later date to determine the amount he has to pay. Indiana native steals millions in cryptocurrency According to United States Attorney Ramsdell, the accused carried out the bulk of his operations from his mother’s basement in Lebanon, Indiana, where they live. The US Attorney mentioned that he willingly set out to destroy the retirement savings of hardworking individuals, noting that he targeted honest living American citizens. The US Attorney also drummed on the impact of his sentencing, noting the seriousness of the offense. “His 20-year sentence demonstrates the severity of his crime and its impact on the hundreds of victims whose lives have been devastated by his fraudulent activity,” he said. Ramsdell added that during sentencing, the court and the victims showered enormous praise on the professionals at the Federal Bureau of Investigations (FBI) for their tremendous work during the investigations. He added that they were able to fish out the perpetrator and recover a substantial part of the cryptocurrency stash. He also thanked the FBI for coordinating with the Attorney General’s office to bring the accused to justice. Alvin Winston Sr. Special Agent in charge of the case at FBI Minneapolis added that criminal offenses usually have victims, noting that it is always honest and straightforward citizens that are usually affected. He added that they will continue to unmask these criminals and prosecute them. “Today’s sentencing makes clear that cybercriminals who believe they can operate from the shadows without consequence are mistaken. The FBI, alongside our partners, will continue to investigate and dismantle these schemes to ensure justice is served and the public remains protected,” he said. Court documents reveal Light’s offenses According to documents made available at the court in February 2022, Light gained illegal access to the platform of an investment holdings firm located in Sioux Falls, South Dakota. During the breach, he was able to steal personal identity information of several clients on the platform, stealing about $37 million in digital assets from over 600 victims. Authorities mentioned that he did not carry out the act alone, acting with at least one unidentified perpetrator. Authorities mentioned that during the breach, he was able to gain access to the identity of a real client of the investment holdings company, allowing the Indiana native to illegally enter the company’s servers. After entering the company’s server, he was able to gain access to the private information of hundreds of clients with the investment holdings company, using the opportunity to steal digital assets belonging to users who held them with the company. After stealing the digital assets, the Indiana native then funneled them through various locations globally, using several mixing services and online gambling websites to hide the trail of the digital assets and his identity. Authorities mentioned that aside from South Dakota natives affected by the theft, it also affected other users living in other countries. The total loss was approximately put at $37 million. Investigations into the case were overseen by the FBI, with Assistant United States Attorney Jeremy R. Jehangiri prosecuting Light. The Indiana native has been remanded to the US Marshals Service to see out the remaining portion of his sentence. Cryptopolitan Academy: How to Write a Web3 Resume That Lands Interviews - FREE Cheat Sheet
