Articles for tag: Charles Parks, cloud computing, cryptocurrency fraud, cryptojacking, luxury purchases, money laundering, Sentencing

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Nebraska Man Pleads Guilty in $3.5 Million Cryptojacking Scheme, Highlighting Growing Cybercrime Concerns in Cryptocurrency Sector

A man from Nebraska, Charles O. Parks III, pleaded guilty to a large-scale cryptojacking operation after his arrest in April. He rented cloud computing from two major providers, amassing a bill of $3.5 million while mining around $970,000 worth of cryptocurrency without ever paying. Parks used various aliases and created multiple accounts to access powerful ...

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