A federal court in Brooklyn has sentenced crypto influencer Charles Parks III, known online as CP30, to prison for running a large-scale cryptojacking scheme. Prosecutors said he fraudulently gained access to computing resources worth over $3.5 million, which he then used for illegal cryptocurrency mining.

How the Cryptojacking Worked

Cryptojacking is a type of cybercrime where perpetrators secretly exploit other people’s electricity, hardware, or cloud services to mine digital assets. In Parks’ case, he hacked into two major cloud service providers, gaining access to powerful computing resources and storage. Between January and August 2021, he mined Ethereum, Litecoin, and Monero, with the illegally obtained assets valued at around $1 million.

Fake Identities and Shell Companies

To carry out his scheme, Parks created multiple fake identities, business affiliations, and email accounts. Among them were shell companies such as “MultiMillionaire LLC” and “CP3O LLC”, which he used to obtain higher-level cloud privileges and services. When providers raised concerns about excessive data usage and unpaid balances, Parks fabricated stories about running a supposed “global online training company” designed to serve up to 10,000 students simultaneously. In reality, no such training program or students ever existed.

Lavish Lifestyle Funded by Crime

Investigators revealed that Parks laundered his mining profits through crypto exchanges, NFT marketplaces, online payment platforms, and traditional bank accounts. He structured transactions to evade federal anti-money laundering reporting requirements, eventually converting the funds into cash. The money was then spent on luxury cars, first-class hotel stays, and expensive trips abroad.

Meanwhile, Parks branded himself as a successful influencer and motivational speaker. In a YouTube video from 2022, he boasted that he created a “crypto script” in just ten days that allowed him to stop working for the rest of the year. “I set myself the goal of reaching multimillionaire status – and I achieved it,” he told his followers.

Authorities Promise Tougher Crackdowns

The U.S. Attorney for the Eastern District of New York commented on the case:

“While Parks bragged about his so-called success on social media, he failed to mention that it was built on lies, theft, and fraud. Today’s sentencing reaffirms the FBI’s commitment to dismantling any crypto scheme that exploits legitimate businesses.”

Parks was charged with wire fraud, money laundering, and engaging in unlawful monetary transactions. In December 2024, he pleaded guilty and agreed to forfeit $500,000 along with a Mercedes-Benz purchased with illicit proceeds. The final restitution amount is expected to be determined at a later date.


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