Cryptojacker gets 1 year prison after admitting to $3.5M fraud

Charles O. Parks III, who admitted to misusing $3.5 million worth of resources from two cloud computing providers to mine crypto, was sentenced to one year and one day in prison.

A crypto influencer has been sentenced to just over a year in prison for what US prosecutors called a large-scale cryptojacking operation that defrauded two major cloud computing providers.

The Department of Justice (DOJ) said on Friday that a Brooklyn federal court sentenced Charles O. Parks III, who also went by “CP3O,” to one year and one day in prison for the scheme that defrauded the computing providers of more than $3.5 million in resources.

Parks used fake corporate identities such as “MultiMillionaire LLC” and “CP3O LLC” to trick two unnamed cloud providers into granting him elevated computing privileges, which he exploited to mine nearly $1 million worth of Ether (ETH), Litecoin (LTC), and Monero (XMR) between January and August 2021, prosecutors said.

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