Evan Frederick Light, a 21-year-old from Lebanon, Indiana, has pleaded guilty to charges of Conspiracy to Commit Wire Fraud and Conspiracy to Launder Monetary Instruments in connection with a massive cybercrime that involved the theft of over $37 million in cryptocurrency. Light’s guilty plea came on September 30, 2024, during a court appearance before U.S. Magistrate Judge Veronica Duffy.
The cybercrime, which took place in February 2022, targeted an investment holdings company based in Sioux Falls, South Dakota. Light, along with unidentified co-conspirators, infiltrated the company’s computer systems, stealing personally identifiable information (PII) of nearly 600 victims. Using this access, he illegally transferred cryptocurrency the company’s clients held.
To conceal his identity and launder the stolen assets, Light utilized various methods, including mixing services and gambling websites. His cyber-intrusion affected victims worldwide, and authorities estimate the total financial loss at approximately $37 million.
“This conviction is a reminder that no cybercriminal is beyond the reach of justice,” said U.S. Attorney Alison J. Ramsdell. The FBI, which led the investigation, emphasized its commitment to pursuing those who exploit technology for financial gain, regardless of the complexity of their schemes. Light now faces a maximum sentence of 20 years in prison for each count, along with hefty fines and restitution.
