Posted 4/15/2024, 7:46:03 PM
Man Faces 30 Years for Alleged $3.5M Cloud Crypto Mining Scheme
- Man allegedly tricked cloud providers out of $3.5M in computing resources to mine crypto
- He allegedly used fake IDs and deferred billing to get elevated services he didn't pay for
- Computing resources were used to mine $1M worth of Ether, Litecoin, and Monero
- Proceeds were allegedly laundered to buy luxury goods and services
- Faces up to 30 years in prison if convicted on wire fraud, money laundering, and other charges
