A federal court in Brooklyn has jailed a crypto influencer who runs a massive crypto jacking scheme worth millions of dollars. According to prosecutors, Charles Parks III, also known as CP30, stole over $3.5 million in cloud computing services on digital assets.
Crypto jacking, also known as illegal crypto mining, involves the misuse or hijacking of other people’s resources, including electricity, hardware and computing power, to minify digital assets.
According to prosecutors, Parks scam two popular cloud computing services on the resource and used them to minify about $1 million in digital assets. They said he was running a large business in action from January 2021 to August 2021.
Influencer was sentenced to prison for a crypto jacking scheme
Authorities said the crypto influencer has created a variety of names, company affiliations and email addresses, including emails that include the domain names of the companies he runs. Documents show that he can illegally access huge amounts of computing power and storage using domain names such as “MultiMillionaire LLC” and “CP3O LLC” under his control.
Parks also deceived providers to approve some privileges and benefits, including increasing levels of computing services and removing inquiries from providers regarding the use of suspicious data and installation of unpaid subscription balances.
For example, he lied to one company that he was using computing resources to create a “global online training company focusing on media, technology and business strategy.”
He lied that his goal was to ensure that the service could reach around 10,000 students at the same time, but in reality there were no training companies and no students. Parks used fraudulently acquired computing resources to mine several digital assets, including Ethereum, Litecoin, and Monero.
The park then converted and washed the crypto proceeds.
Authorities promise to crack down on criminals
Officials said they used several platforms such as Crypto Exchanges, Fungible (NFT) marketplace, online payment providers and traditional bank accounts to move their money. He also structured a funding move to avoid transaction reporting requirements under federal law. After converting fraudulent assets into cash, the crypto influencers used the revenue to buy luxury cars, pay for travel, and turn them into first-class hotel rooms.
Parks boasts his profits and has appeared as an influencer to gain credibility. In a YouTube video he posted in September 2022, Parks shared tips on achieving what he called the millionaire mentality. ”
“Last year, I set a goal to make more than seven figures, so I call it a really great cryptography script that I spent the first 10 days of the year and was able to use it on a massive scale. And after working for those 10 days, I did this and didn’t work for the rest of the year.
Speaking about his case, a US lawyer for the Eastern District of New York said, “While Parks shines on social media platforms, he failed to mention that his success was rooted in deception and theft.
Parks has been accused of engaging in illegal financial transactions in connection with wire fraud, money laundering and schemes. He had already pleaded guilty to the scheme in December 2024, surrendering a Mercedes-Benz luxury vehicle that he had purchased with around $500,000 and proceeds from criminal activities. The amount of compensation is expected to be determined at a later date.
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