A U.S. cybercriminal pleaded guilty to charges of telecom fraud and money laundering, stealing over $37 million in cryptocurrency

ChainCatcher news, the U.S. Attorney's Office stated in a release that Indiana man Evan Light pleaded guilty on Monday to charges of conspiracy to commit wire fraud and conspiracy to commit money laundering, and stole cryptocurrency worth over $37 million from nearly 600 victims.

Court documents show that in February 2022, Light was involved in a cyber intrusion that targeted an investment holding company located in Sioux Falls, South Dakota. The documents also allege that Light was accused of stealing personal information, which he then used to steal assets from hundreds of victims.

The statement said, "Under Light's control, the stolen cryptocurrency was subsequently transferred around the world, including to multiple mixing services and gambling websites, to conceal his identity and hide the virtual currency."