Crypto Influencer Behind Bars: The Shocking Downfall of a Multi-Million Dollar ‘Cryptojacking’ Scheme

Another day, another crypto scandal—this time with a prison sentence attached. A high-profile influencer just got handed a one-way ticket to federal custody for orchestrating a massive cryptojacking operation. Here’s how the scheme unraveled.

The Setup: Mining on Stolen Cycles

Using malware-infected software, the influencer hijacked thousands of devices to mine crypto without their owners’ knowledge. Victims? Everyone from small businesses to unsuspecting gamers. Profits? Millions—until the feds caught on.

The Fallout: From Twitter Threads to Jail Cells

Once a darling of crypto Twitter, the influencer now faces the harsh reality of white-collar crime penalties. Authorities seized assets, but the damage to trust in the space? Priceless—and another headache for regulators already drowning in fraud cases.

The Irony: A ‘Decentralized’ Crime With Very Centralized Consequences

For all the talk of crypto’s anonymity, this case proves old-school investigations still get results. Meanwhile, traditional finance elites are probably sipping champagne—nothing like a crypto implosion to make their 1% fees look reasonable.

Charles Parks Gets 1 Year In Prison For Crypto Scheme

Charles O. Parks III, better known as “CP3O,” was sentenced to one year and one day behind bars in Brooklyn federal court for stealing from two well-known cloud-computing services in a bid to illicitly buy digital assets, according to the August 15 press release.

(1/2) “Parks branded himself as an innovator and a thought leader, but in the end he was merely a fraudster whose secret to getting rich quick was lying and stealing,” stated United States Attorney Nocella.

The press release outlines the practice of cryptojacking as “the unauthorized use or hijacking of another party’s resources, such as electricity, hardware, or computing power to mine cryptocurrency.”

The DOJ claims that Parks stole $3.5 million worth of computing power and storage, as well as $1 million worth of digital assets, between January and August 2021.

“After converting the ill-gotten cryptocurrency into dollars, Parks used the proceeds to make extravagant purchases, including a Mercedes-Benz, jewelry, and first-class hotel rooms, and to pay travel expenses,” the press release reads.

Cryptojacking Convict Lived Life of Luxury

Parks also used the massive blockchain scheme as a means of promoting himself as a successful crypto influencer, sharing tips on his YouTube channel on what he called a “MultiMillionaire Mentality.”

“Charles Parks III stole more than $3.5 million worth of resources to illegally mine another million in cryptocurrency for personal luxurious purchases,” stated FBI Assistant Director in Charge G. Raia. “While Parks gloated across social media platforms, he failed to mention his purported success was rooted in deceit and theft.”

“Charles Parks manipulated technology, stole millions in computer resources, and illegally mined cryptocurrency—and today’s sentencing holds him fully accountable for his deceitful actions,” stated NYPD Commissioner Tisch.