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Cracking down on cybercrimes, the South Dakota district of the United States has taken action against a 21-year-old hacker, whose digital rampage left victims grappling with significant financial losses and the wreckage of their online lives.

United States Attorney Alison J. Ramsdell announced Even Frederick Light, an individual from Indiana, pleaded guilty to charges related to “Conspiracy to Commit Wire Fraud” and “Conspiracy to Launder Monetary Instruments.” 

During the hack, Light accessed a client’s identity of the invesmtent company and infiltrated the computer servers. 

With the clients’ information, an investigation from the Federal Bureau of Investigation (FBI) found Light stole customers’ personal identifiable information (PII) and further snatched cryptocurrencies worth over $37 million from nearly 600 victims. 

The cryptocurrencies were transferred to various locations throughout the world through multiple mixing services and gambling websites to conceal his identity and to hide the virtual currency.

Warning the citizens about cyber-intrusions, Special Agent in Charge Alvin M. Winston Sr. of FBI Minneapolis, stated: “Cyber-intrusions pose a serious threat to both individuals and businesses, and we are dedicated to protecting the public from these sophisticated attacks.” 

“The FBI will continue to work alongside our partners to ensure that those who exploit technology for financial gain are held accountable, no matter how complex or far-reaching their schemes may be.”

As part of the punishment, the order states the maximum penalty for each count upon conviction is 20 years in custody and/or a fine, three years of supervised release, and a $200 special assessment to the Federal Crime Victims Fund.