Canadian Cybercriminal Sentenced for NFT and Cryptocurrency Scam

A 22-year-old Canadian man, Cameron Albert Redman, has been sentenced to one year in prison for orchestrating a sophisticated scam involving hacked social media accounts. Redman and his co-conspirators targeted high-profile digital artists on X (formerly Twitter), stealing over $794,000 in NFTs and cryptocurrency from more than 200 victims in 2022.

The scheme involved hijacking accounts of prominent creators like Mike "Beeple" Winkelmann and Gary Vaynerchuk to post fraudulent raffle promotions. Victims were lured into clicking malicious links that granted access to their crypto wallets, enabling the theft of digital assets. U.S. authorities highlighted the operation's sophistication, noting the use of replica websites mimicking legitimate platforms to deceive investors.

This case underscores the persistent risks of social engineering attacks in the crypto space, particularly targeting high-value NFT collectors and traders. The sentencing reflects growing regulatory scrutiny on digital asset-related fraud.