A hacker from the US state of Indiana, who gained access to the servers of an investment company and stole more than $37 million in cryptocurrencies from 600 clients, pleaded guilty to fraud and money laundering.

According to the US Department of Justice, Evan Frederick Light hacked into the computer servers of an investment company to illegally gain access to user data. He used this information to steal cryptocurrencies. Light transferred the stolen assets to cryptocurrency mixers and gambling sites in order to maintain his anonymity and “cover his tracks.” These offenses were committed between 2021 and May 2023. The Ministry of Justice noted that Light acted in collusion with another criminal.

On September 30, the hacker pleaded guilty to wire fraud and money laundering through cryptocurrencies. He faces up to 20 years in prison on each count, as well as three years of supervised release and a large fine. The court may order the offender to compensate the company for losses and order confiscation of property. Light was already indicted in South Dakota in June 2023. Initially, he refused to admit guilt in the crimes committed.

“This cybercriminal tried to hide behind the latest technology, and yet he could not hide from law enforcement. All criminals will be brought to justice, no matter how sophisticated their crimes may be,” the US Department of Justice warned.

In September, Missouri State Police arrested an engineer who hacked into his former employer’s computer system and extorted 20 Bitcoins worth $750,000. In September, the US Federal Bureau of Investigation (FBI) blocked three fake services that offered help to victims of cryptocurrency fraud in returning stolen assets.