District of South Dakota Indiana Man Pleads Guilty to Conspiracies Involving Cyber Intrusion and 37 Million Cryptocurrency Theft United States Department of Justice
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ppSIOUX FALLS United States Attorney Alison J Ramsdell announced that Evan Frederick Light age 21 of Lebanon Indiana appeared before US Magistrate Judge Veronica Duffy on September 30 2024 and pleaded guilty to an Indictment that charged him with Conspiracy to Commit Wire Fraud and Conspiracy to Launder Monetary Instruments ppThe maximum penalty for each count upon conviction is 20 years in custody andor a fine three years of supervised release and a 200 special assessment to the Federal Crime Victims Fund Restitution may also be orderedppThese convictions reflect the relentless efforts of the US Attorneys Office and the FBI in identifying a cybercriminal holding him accountable and prioritizing the victims of his crimes said US Attorney Ramsdell Although this defendant tried to hide in the shadows of a cyber underworld he was not beyond the reach of our team and todays guilty verdicts should serve as a reminder that this Office and its law enforcement partners will bring cyber criminals to justice regardless how sophisticated their crimes may beppThis case underscores the FBIs unwavering commitment to identifying and bringing cybercriminals to justice said Special Agent in Charge Alvin M Winston Sr of FBI Minneapolis Cyberintrusions pose a serious threat to both individuals and businesses and we are dedicated to protecting the public from these sophisticated attacks The FBI will continue to work alongside our partners to ensure that those who exploit technology for financial gain are held accountable no matter how complex or farreaching their schemes may beppAccording to court documents in February of 2022 Light was involved in a cyberintrusion involving an investment holdings company located in Sioux Falls South Dakota During the cyberintrusion Light stole customer personal identifiable information PII and then stole cryptocurrency worth over 37 million from nearly 600 victims He acted with one or more unidentified perpetratorsppSpecifically during the cyber intrusion Light accessed the identity of a real client of the investment holdings company and unlawfully utilized that identity to infiltrate the investment holdings companys computer servers After successfully accessing the computer servers he then exfiltrated from the servers the PII of hundreds of other clients using this access to steal virtual currencies from the clients who held such assets with the investment holdings companyppThe stolen cryptocurrency under Lights control was then funneled to various locations throughout the world including multiple mixing services and gambling websites to conceal his identity and to hide the virtual currency Lights conduct adversely affected victims all over the world including South Dakota As a result of his conduct the total loss was approximately 37 millionppThe investigation was conducted by the FBI The case is being prosecuted by Assistant US Attorney Jeremy R JehangirippA presentence investigation was ordered and a sentencing date has not been set The defendant was remanded to the custody of the US Marshals Service pending sentencingppDistrict of South Dakota
Main Office
PO Box 2638
Sioux Falls SD 571012638ppEmail USAOSDpp ppTelephone 605 3304400
Hearing Impaired TTY Phone 605 3304403ppStay ConnectedppppHave a question about Government Servicesp
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ppSIOUX FALLS United States Attorney Alison J Ramsdell announced that Evan Frederick Light age 21 of Lebanon Indiana appeared before US Magistrate Judge Veronica Duffy on September 30 2024 and pleaded guilty to an Indictment that charged him with Conspiracy to Commit Wire Fraud and Conspiracy to Launder Monetary Instruments ppThe maximum penalty for each count upon conviction is 20 years in custody andor a fine three years of supervised release and a 200 special assessment to the Federal Crime Victims Fund Restitution may also be orderedppThese convictions reflect the relentless efforts of the US Attorneys Office and the FBI in identifying a cybercriminal holding him accountable and prioritizing the victims of his crimes said US Attorney Ramsdell Although this defendant tried to hide in the shadows of a cyber underworld he was not beyond the reach of our team and todays guilty verdicts should serve as a reminder that this Office and its law enforcement partners will bring cyber criminals to justice regardless how sophisticated their crimes may beppThis case underscores the FBIs unwavering commitment to identifying and bringing cybercriminals to justice said Special Agent in Charge Alvin M Winston Sr of FBI Minneapolis Cyberintrusions pose a serious threat to both individuals and businesses and we are dedicated to protecting the public from these sophisticated attacks The FBI will continue to work alongside our partners to ensure that those who exploit technology for financial gain are held accountable no matter how complex or farreaching their schemes may beppAccording to court documents in February of 2022 Light was involved in a cyberintrusion involving an investment holdings company located in Sioux Falls South Dakota During the cyberintrusion Light stole customer personal identifiable information PII and then stole cryptocurrency worth over 37 million from nearly 600 victims He acted with one or more unidentified perpetratorsppSpecifically during the cyber intrusion Light accessed the identity of a real client of the investment holdings company and unlawfully utilized that identity to infiltrate the investment holdings companys computer servers After successfully accessing the computer servers he then exfiltrated from the servers the PII of hundreds of other clients using this access to steal virtual currencies from the clients who held such assets with the investment holdings companyppThe stolen cryptocurrency under Lights control was then funneled to various locations throughout the world including multiple mixing services and gambling websites to conceal his identity and to hide the virtual currency Lights conduct adversely affected victims all over the world including South Dakota As a result of his conduct the total loss was approximately 37 millionppThe investigation was conducted by the FBI The case is being prosecuted by Assistant US Attorney Jeremy R JehangirippA presentence investigation was ordered and a sentencing date has not been set The defendant was remanded to the custody of the US Marshals Service pending sentencingppDistrict of South Dakota
Main Office
PO Box 2638
Sioux Falls SD 571012638ppEmail USAOSDpp ppTelephone 605 3304400
Hearing Impaired TTY Phone 605 3304403ppStay ConnectedppppHave a question about Government Servicesp
