Particle.news
Download on the App Store
5 ARTICLES
·
2d ago

Crypto Influencer ‘CP3O’ Gets One Year and a Day for $3.5 Million Cloud Cryptojacking

Prosecutors say he posed as a tech entrepreneur building an online training platform to secure elevated cloud access for illegal mining.

Image
Image
Nebraska man sentenced to 1 year prison for $3.5m cryptojacking scheme
Image

Overview

  • A federal judge sentenced Charles O. Parks III to one year and one day in prison and ordered forfeiture of $500,000 and a Mercedes-Benz, with restitution to be set later.
  • Prosecutors say he defrauded two cloud providers of more than $3.5 million in computing power to mine nearly $1 million in Ether, Litecoin and Monero between January and August 2021.
  • Using shell entities including CP3O LLC and MultiMillionaire LLC, he obtained elevated access, deferred billing and misled providers by claiming to run a large online education venture.
  • The mined cryptocurrency was laundered through exchanges, an NFT marketplace, payment services and banks before being converted to cash for luxury travel, jewelry and the car.
  • He pleaded guilty to wire fraud in December 2024, and filings do not name the providers, though court records point to companies based in Redmond and Seattle.