Crypto Fraudster Sentenced: $3.5 Million Stolen in Cloud Mining Scheme

Parks was sentenced to one year in prison after illegally obtaining over $3.5 million in cloud computing resources, which he used for crypto mining between January and August 2021. He created fake companies like ‘MultiMillionaire LLC’ and ‘CP3O LLC’ to gain unauthorized access to the cloud services and redirect them for cryptocurrency mining, primarily Ether, Litecoin, and Monero.