The U.S. Department of Justice has charged Evan Light, a 21-year-old resident of Lebanon, Indiana, in a large-scale cybercrime involving the theft of over $37 million in cryptocurrency. Light was involved in the hacking of an investment holding company based in Sioux Falls, South Dakota, in February 2022. During the attack, Light accessed personal information of the company’s clients and stole cryptocurrencies from nearly 600 victims, using their data for unauthorized transactions.

The Attack Scheme

Using phishing and social engineering tactics, Light stole client credentials, allowing him to access their cryptocurrency holdings. After hacking into the investment company, he transferred cryptocurrency from various wallets, causing significant financial losses to the victims. His actions included fraudulent transfers of large amounts of cryptocurrency, which were then moved to hidden wallets to evade law enforcement.

Law Enforcement Response

Following an investigation involving U.S. federal agencies, Light was arrested and charged with the multi-million-dollar theft of digital assets. If found guilty, Light faces a lengthy prison sentence and restitution for the damages caused to the victims of his criminal activity.