Influencer Sentenced for $3.5 Million Cryptojacking Scheme

A prominent cryptocurrency influencer, Charles O. Parks III (also known as “CP3O”), has been sentenced to a year and one day in prison after pleading guilty to defrauding two cloud computing providers of over $3.5 million. Prosecutors allege that Parks exploited these companies’ trust by creating fake business identities to secure enhanced computing privileges for himself. These privileges were then used to mine cryptocurrency – specifically Ethereum (ETH), Litecoin (LTC), and Monero (XMR) – worth nearly $1 million from January to August 2021.