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Cryptojacking scheme results in 1-year prison sentence for Nebraska man

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Charles O. Parks III (alias CP3O) was sentenced to one year in prison for a cryptojacking scheme that defrauded cloud computing providers of over $3.5 million. Parks used cloud resources to mine cryptocurrencies worth nearly $1 million. The scheme involved creating accounts with multiple cloud service providers using aliases and corporate entities to access computing power and storage without payment. Parks laundered the proceeds through various crypto exchanges, online payment services, and bank accounts. He used the funds to purchase luxury items and promote himself as a crypto influencer.

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  1. 18.08.2025 22:05 📰 1 articles

    Nebraska man sentenced for $3.5M cryptojacking scheme

    Charles O. Parks III, also known as CP3O, was sentenced to one year in prison for a cryptojacking scheme that defrauded cloud computing providers of over $3.5 million. The scheme involved using cloud resources to mine cryptocurrencies worth nearly $1 million. Parks used aliases and corporate entities to create accounts with cloud service providers, accessing computing power and storage without payment. The scheme operated between January 2021 and August 2021, and involved mining Monero (XMR), Ether (ETH), and Litecoin (LTC). Parks laundered the proceeds through various crypto exchanges, online payment services, and bank accounts. He used the funds to purchase luxury items and promote himself as a crypto influencer.

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