22-Year-Old Sentenced to 20 Years for $37M Cryptocurrency Theft Scheme
Evan Frederick Light, a 22-year-old from Lebanon, Indiana, has been sentenced to 20 years in federal prison for a significant cryptocurrency theft scheme in the USA. The FBI's investigation, which began after Light unlawfully accessed an investment firm in Sioux Falls, South Dakota, in February 2022, has led to the recovery of a substantial portion of the stolen funds. Light pleaded guilty on September 30, 2024, to charges of conspiracy to commit wire fraud and conspiracy to launder monetary instruments. The FBI's investigation revealed that Light and his accomplices used stolen personally identifiable information (PII) to carry out the theft, targeting almost 600 victims and stealing over $37m in cryptocurrency. They then laundered the funds through mixing services and gambling websites. The FBI's investigation resulted in Light's identification and arrest. US Attorney Alison J. Ramsdell subsequently sentenced Light to 20 years in federal prison, followed by three years of supervised release. Light was remanded to the custody of the US Marshals Service to continue serving his sentence. He was also ordered to pay a $200 special assessment to the Federal Victims Fund and will be ordered to pay restitution for the $37m stolen. Light's sentencing marks a significant victory for law enforcement in the fight against cryptocurrency-related crimes in the USA. The FBI's thorough investigation has not only brought the perpetrator to justice but also recovered a substantial portion of the stolen funds, providing some measure of relief to the victims.
