An Indiana resident has been sentenced to two decades in federal prison for orchestrating a significant cryptocurrency heist from his mother's basement.

Details of the Cybercrime

In May 2023, a federal grand jury charged Evan Frederick Light, a 22-year-old from Lebanon, Indiana, with conspiracy to commit wire fraud and money laundering. The charges stemmed from his unauthorized access to a financial firm in Sioux Falls, South Dakota, in February 2022.

Light, along with accomplices, stole personal information from the firm's clients, leading to the theft of over $37 million in cryptocurrency from nearly 600 victims. The stolen assets were laundered through various channels, including mixing services and gambling platforms.

Light entered a guilty plea on September 30, 2024. On February 6, 2025, he was sentenced to 20 years in federal prison by a US Attorney for the District of South Dakota. His sentence includes three years of supervised release following his prison term.

During the court proceedings, the investigation by the FBI was commended for its role in identifying and apprehending Light, as well as recovering a portion of the stolen cryptocurrency.

Impact and Restitution

Light's actions had a devastating impact on the victims, many of whom lost significant savings. He has been ordered to pay a $200 special assessment to the Federal Victims Fund. A separate hearing will determine the restitution amount for the $37 million stolen.

Light remains in the custody of the US Marshals Service as he serves his sentence.

Learn more about the impact of cybercrime and how to protect your digital assets in our Research section.

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