Nebraska Man Arrested for $3.5 Million Cryptojacking Scheme

Charles O. Parks III faces multiple charges for defrauding cloud service providers to mine nearly $1 million in cryptocurrencies.

Charles O. Parks III allegedly used stolen cloud computing resources valued over $3.5 million from two major providers to mine cryptocurrencies worth about $970,000.
Parks created multiple fake identities and companies to facilitate unauthorized mining and evade billing payments.
The illegal operation involved laundering the mined cryptocurrencies through various platforms, including crypto exchanges and NFT marketplaces.
If convicted, Parks could face up to 30 years in prison for charges including wire fraud and money laundering.
The case highlights growing concerns over cryptojacking and the misuse of digital tools for committing financial crimes.