Summary
TLDR: Charles O. Parks III, known as “CP3O,” has been indicted for a $3.5 million cryptojacking scheme targeting cloud computing services. He used stolen resources to mine cryptocurrencies and fund a lavish lifestyle. Cryptojacking is the unauthorized use of someone else’s computing resources to mine cryptocurrency.
Key Points
1. Charles O. Parks III, nicknamed “CP3O,” has been indicted for orchestrating a $3.5 million cryptojacking scheme targeting major cloud computing services.
2. Parks, from Nebraska, allegedly defrauded two cloud computing service providers out of over $3.5 million in resources and used the stolen processing power to mine nearly $1 million of cryptocurrencies like Ethereum, Litecoin, and Monero.
3. Parks operated from January to August 2021, using multiple aliases and corporate entities to obtain vast amounts of computing power without payment, and he used the illicit proceeds to fund a lavish lifestyle, including a Mercedes Benz, jewelry, and first-class travel.