• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Digital Assets

21-year-old U.S. Citizen Pleads Guilty to $37 Million Cryptocurrency Theft

…Faces Decades in Prison

by Joan Aimuengheuwa
October 2, 2024
in Digital Assets
0
21-year-old U.S. Citizen Pleads Guilty to $37 Million Cryptocurrency Theft
Source: CIO Africa

Source: CIO Africa

UBA
Advertisements

Evan Frederick Light, a 21-year-old U.S. citizen, has pleaded guilty to his involvement in a cryptocurrency theft valued at $37 million. 

His charges include money laundering and conspiracy to commit wire fraud, which could result in up to 20 years of imprisonment for each offence.

The U.S. Department of Justice (DOJ) revealed that Light illegally accessed the servers of an investment firm, stealing personal data and crypto from approximately 600 victims. He then laundered the stolen assets through cryptocurrency mixers and online gambling platforms to conceal his identity.

Light’s guilty plea, entered on September 30, follows charges brought against him in June 2023. The cybercrime, which spanned from 2021 to May 2023, involved at least one accomplice, according to the DOJ. 

Despite his attempts to remain hidden, the DOJ emphasised its determination to bring him to justice, stating, “Cybercriminals may think they can hide, but they are not beyond the reach of our dedicated law enforcement.”

The FBI, which has been instrumental in investigating the case, has raised alarms over the rise in cryptocurrency-related fraud. A recent report showed that Americans lost an estimated $5.6 billion to such scams in 2023, marking a sharp 45% increase from the previous year. Of the 69,000 complaints registered, investment scams were responsible for over 70% of the total losses.

Older individuals were disproportionately targeted, with the FBI highlighting that those over 60 were among the most affected. Other forms of deception, including call-centre fraud and government impersonation, further contributed to the surge in losses.

Light now faces the possibility of a lengthy sentence, with up to 20 years imprisonment per charge, in addition to fines, supervised release, and restitution. Authorities are working to track down any remaining stolen assets and bring his accomplices to justice.

Loading

Advertisements
MTN ADS

0Shares
Tags: Crypto ScamCryptocurrency TheftEvan Frederick LightFBIU.S. Department of Justice (DOJ)
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
NIMC

NIMC Stops Data Modification at Enrollment Centres

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

B2B

Unlocking Opportunities: Bridging the Gap Between B2B Startups and Nigeria’s Informal Economy

1 year ago
TGI Group and Jigawa iLearn Scholars

TGI Group Clinches Two Prestigious LaPRIGA Awards

6 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.