Synopsis– A self-styled crypto influencer will serve a year and a day in federal prison. Prosecutors said he ran a large-scale cryptojacking scheme that syphoned over $3.5 million in cloud resources. The operation mined nearly $1 million in cryptocurrency, including Ether, Litecoin, and Monero, over eight months. The sentence underscores growing pressure on fraudsters exploiting cloud infrastructure for illicit crypto mining.
How the Scheme Hijacked Cloud Power
Between January and August 2021, Charles O. Parks III executed a sophisticated cryptojacking plan. He used fake corporate identities, “MultiMillionaire LLC” and “CP3O LLC,” to open accounts with two major cloud providers. He then secured elevated privileges and launched thousands of high-powered instances to mine crypto at scale.
He told one provider he was building a global online training company. He claimed it would serve 10,000 students studying media, technology, and business strategy. However, prosecutors said the training company never existed, and there were no students at all.
Parks mined nearly $1 million worth of Ether, Litecoin, and Monero using the stolen computing power. He deflected questions when providers flagged unusual data usage and unpaid subscription balances. As a result, the scheme continued for months before investigators exposed it.
Guilty plea, sentencing, and forfeitures
Parks pleaded guilty to wire fraud in December 2024, after facing broader charges. Initially, he was charged with wire fraud, money laundering, and unlawful monetary transactions. Those counts carried a potential maximum sentence of up to 50 years.
On August 15, 2025, a Brooklyn federal court imposed his prison term. A judge sentenced him to one year and one day, a term that can enable early release for good behaviour. The court also ordered the forfeiture of $500,000 and a Mercedes-Benz bought with illicit proceeds. Restitution for the defrauded providers will be determined later.
Officials framed the case as a clear signal to tech-enabled fraudsters. The NYPD commissioner said Parks manipulated technology and stole millions in computer resources. Federal prosecutors stressed that he was not an innovator but a deceitful fraudster.
Online Persona
After mining the crypto, Parks laundered the proceeds through several channels. He moved funds through crypto exchanges, an NFT marketplace, online processors, and banks. He converted assets into cash and financed luxury purchases and first-class travel.
He bought a Mercedes-Benz, jewellery, and high-end accommodations with the proceeds. Moreover, he used the image of success to build a public brand as a crypto influencer. He posted claims of seven-figure gains and promoted a “MultiMillionaire Mentality”.
His website marketed subscription-based coaching for $10 per month. It offered one-on-one consulting for $150, with rewards paid in his own token. He positioned himself as a thought leader, but prosecutors said the wealth rested on fraud.
Why the Case Matters for Crypto and Cloud Security
This case highlights the persistent risk of cryptojacking in cloud environments. Unlike ransomware, cryptojacking drains resources and raises costs without immediate disruption. Businesses may see slower systems and higher bills before they detect the abuse.
The case also impacts perceptions of the crypto sector. High-profile frauds involving influencers erode credibility and trust. Therefore, investigators and prosecutors emphasised accountability for tech-enabled deception.
Finally, the sentence reinforces a broader enforcement message. Authorities aim to deter schemes that exploit emerging technologies for illicit gain. As cloud adoption grows, robust verification, monitoring, and billing controls remain essential.
In the end, the prison term, forfeiture, and potential restitution mark a decisive outcome. Parks admitted to wire fraud and faced direct consequences for the cryptojacking scheme. The judgement signals that abusing cloud infrastructure for secret mining will draw swift penalties.
Written by Fazal Ul Vahab C H
