Charles Parks was arrested April 13 in Nebraska and is scheduled to make his first appearance in Omaha federal court on April 16. Parks is accused of wire fraud, money laundering through cryptocurrencies and committing illegal monetary transactions.
According to prosecutors, Parks, known as CP3O, created the cryptojacking scheme. From January to August 2021, he created various corporate names and email addresses, including accounts for his MultiMillionaire LLC and CP3O LLC entities to register with two well-known cloud service providers. The intruder gained access to huge amounts of computing power and data storage for which he did not pay.
Parks fraudulently obtained increased privileges and benefits from suppliers and obtained deferred billing. He later began rejecting their requests regarding questionable data usage and mounting unpaid bills. Parks used the resulting resources to mine ETH, LTC and XMR.
“Parks stole computing resources for cryptocurrency mining. Criminals are becoming increasingly adept at manipulating digital tools and hiding behind advanced technologies. Police, along with the FBI, will continue to pursue those who use new and sophisticated methods to commit crimes,” the local prosecutor’s office said.
Let us recall that in 2021, the US Department of Energy developed an algorithm for detecting illegal software for hidden mining intended for data centers.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
