A hacker’s high-stakes crypto heist just hit a dead end.
A brazen cybercriminal who swiped over $37 million in cryptocurrency from nearly 600 victims has finally met his match. Evan Frederick Light, a hacker from Indiana, pleaded guilty to conspiracy to commit wire fraud and money laundering on September 30.
His crime?
Infiltrating the servers of an investment firm, stealing sensitive customer data, and using it to drain their cryptocurrency holdings.
Light didn’t stop there. In an attempt to cover his tracks, he laundered the stolen funds through cryptocurrency mixers and gambling platforms, hoping to hide his digital footprint. But justice caught up with him.
The US Department of Justice (DOJ) announced on October 1 that Light now faces up to 20 years in prison for each charge, alongside possible fines, restitution, and a lengthy supervised release.
Light was initially indicted on June 15, 2023, in South Dakota, where he first pleaded not guilty. However, the evidence against him—along with the DOJ’s relentless pursuit—sealed his fate.
According to the complaint, Light carried out these crimes from 2021 until May 2023, with at least one accomplice still unidentified.
This case sends a clear message: the DOJ is cracking down hard on cybercriminals, no matter how elusive they try to be. In 2023 alone, cryptocurrency fraud has skyrocketed, with Americans losing $5.6 billion—up 45% from the previous year.
The FBI received around 69,000 complaints, with seniors being especially targeted. Investment scams made up over 70% of the reported fraud, followed by call center scams and government impersonation schemes.
As Light faces his punishment, the case highlights the growing need for stronger cybersecurity measures and greater awareness of rising crypto crimes.
