US Crypto Influencer Gets 1-Year Term for $3.5 Million Cloud Fraud

- Crypto influencer sentenced to one year and one day for large-scale cryptojacking. - Scheme exploited cloud resources to mine $1 million in cryptocurrency. On August 18, 2025, Cointelegraph reported that a federal court sentenced Charles O. Parks III, a self-proclaimed crypto influencer known online as "CP3O," to one year and one day in prison. Parks orchestrated a $3.5 million cryptojacking scheme, exploiting cloud computing resources from two major providers to mine approximately $1 million in cryptocurrency, including Ethereum (ETH), Litecoin (LTC), and Monero (XMR). Pleading guilty to wire fraud in December 2024, Parks admitted to using fraudulent corporate entities like "MultiMillionaire LLC" and "CP3O LLC" to access cloud services between January and August 2021. He then used the stolen computing resources to secretly mine cryptocurrencies, laundering the funds through various channels including cryptocurrency exchanges, an NFT marketplace, and traditional banking systems. Parks reportedly used the proceeds to fund a luxurious lifestyle by purchasing a Mercedes-Benz, high-end jewelry, and first-class travel. As part of the sentencing, the court ordered Parks to forfeit $500,000 in funds and the Mercedes-Benz. Federal prosecutors noted that Parks used his fraudulent gains to portray himself as a successful crypto influencer, gaining social media followers by boasting about his financial achievements. However, this wealth was derived from illicit activity rather than legitimate enterprise. This case underscores the growing intersection of cryptocurrency, cloud computing, and fraudulent activities, presenting challenges for regulators and law enforcement in tackling tech-enabled financial crimes. According to data from CoinMarketCap on August 18, at 02:09 UTC, Ethereum (ETH) was trading at $4,391.14, with a -0.48% change in 24-hour trading volume. At the same time, Litecoin (LTC) was trading at $118.92, reflecting a -1.18% change in volume, while Monero (XMR) was trading at $270.58, recording a 6.27% increase in 24-hour trading volume.