Menu

  • Alerts
  • Incidents
  • News
  • APTs
  • Cyber Decoded
  • Cyber Hygiene
  • Cyber Review
  • Cyber Tips
  • Definitions
  • Malware
  • Threat Actors
  • Tutorials

Useful Tools

  • Password generator
  • Report an incident
  • Report to authorities
No Result
View All Result
CTF Hack Havoc
CyberMaterial
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
Hall of Hacks
  • Education
    • Cyber Decoded
    • Definitions
  • Information
    • Alerts
    • Incidents
    • News
  • Insights
    • Cyber Hygiene
    • Cyber Review
    • Tips
    • Tutorials
  • Support
    • Contact Us
    • Report an incident
  • About
    • About Us
    • Advertise with us
Get Help
No Result
View All Result
Hall of Hacks
CyberMaterial
No Result
View All Result
Home News

Illegal Crypto Mining Operation Bust

April 15, 2024
Reading Time: 2 mins read
in News
Illegal Crypto Mining Operation Bust

The U.S. Department of Justice has taken action against Charles O. Parks III, also known as “CP3O,” for his alleged involvement in a significant cryptocurrency mining operation conducted on cloud servers without payment. Parks stands accused of orchestrating a scheme that exploited approximately $3.5 million worth of cloud computing resources to mine cryptocurrencies like Ether (ETH), Litecoin (LTC), and Monero (XMR). Using false corporate identities, Parks gained unauthorized access to cloud providers’ computing power, employing tens of thousands of instances to maximize his mining operations, which reportedly yielded nearly $970,000 in cryptocurrency proceeds. Following his arrest in Nebraska, Parks faces charges including wire fraud, money laundering, and engaging in unlawful monetary transactions.

This incident underscores the inherent risks associated with unauthorized cryptocurrency mining activities and emphasizes the necessity for cloud service providers to implement robust security measures to prevent such exploitation. Additionally, it highlights the vital role of law enforcement agencies in investigating and prosecuting individuals involved in fraudulent cryptocurrency schemes.

Reference:
  • U.S. DOJ Cracks Down on $3.5 Million Illegal Crypto Mining
Tags: April 2024CryptocurrencyCyber NewsCyber News 2024Cyber threatsCybersecurityfraudulentU.S. Department of Justice
ADVERTISEMENT

Related Posts

Cybercriminals Trade 183M Stolen Logins

F5 Faces Revenue Hit From Cyber Attack

October 28, 2025
Cybercriminals Trade 183M Stolen Logins

Google Denies Massive Gmail Breach

October 28, 2025
Cybercriminals Trade 183M Stolen Logins

Cybercriminals Trade 183M Stolen Logins

October 28, 2025
Ransomware Payments Fall In Q3 2025

Ransomware Payments Fall In Q3 2025

October 28, 2025
Ransomware Payments Fall In Q3 2025

Teens Face Court Over TfL Cyber Attack

October 28, 2025
Ransomware Payments Fall In Q3 2025

Fortinet Faces Securities Fraud Claims

October 28, 2025

Latest Alerts

Fake LastPass Death Claims Breach Vaults

ChatGPT Atlas Browser Fooled By Fake Url

Chrome Zero Day Delivers LeetAgent

Smishing Triad Tied To Global Phishing

Qilin Ransomware Uses Hybrid Attack

Hackers Exploit Outdated WordPress Plugins

Subscribe to our newsletter

    Latest Incidents

    Google Contractor Steals Play Files

    Vibra Hospital Data Breach Probe

    Hackers Target Swedish Power Grid

    Ex-L3Harris Cyber Boss Charged With Espionage

    Safepay Hits Xortec Video Surveillance Firm

    Hackers Breach Verstappen Data

    CyberMaterial Logo
    • About Us
    • Contact Us
    • Jobs
    • Legal and Privacy Policy
    • Site Map

    © 2025 | CyberMaterial | All rights reserved

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Add New Playlist

    No Result
    View All Result
    • Alerts
    • Incidents
    • News
    • Cyber Decoded
    • Cyber Hygiene
    • Cyber Review
    • Definitions
    • Malware
    • Cyber Tips
    • Tutorials
    • Advanced Persistent Threats
    • Threat Actors
    • Report an incident
    • Password Generator
    • About Us
    • Contact Us
    • Advertise with us

    Copyright © 2025 CyberMaterial