Crypto Influencer Sentenced to Prison in Multi-Million Dollar Cryptojacking Scheme

Charles O. Parks III, a self-styled crypto influencer known as "CP3O," was sentenced to one year and one day in federal prison for orchestrating a multimillion-dollar cryptojacking scheme. The U.S. Department of Justice revealed that Parks hijacked cloud-computing resources to mine cryptocurrency, stealing $3.5 million in computing power and $1 million in digital assets between January and August 2021.

Parks converted the illicit gains into fiat, funding a lavish lifestyle that included a Mercedes-Benz, jewelry, and luxury travel. U.S. Attorney Nocella dismissed Parks' persona as a thought leader, stating, "He was merely a fraudster whose secret to getting rich quick was lying and stealing." The case underscores the growing scrutiny of crypto-related crimes by federal authorities.