Man faces 34 years in prison for “mining cryptocurrencies”
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Answer Man faces 34 years in prison for “mining cryptocurrencies”
Some scammers seek to obtain cryptocurrency in any way and using various fraud methods.
Recently, a 29-year-old man from Singapore faced up to 34 years in prison after stealing cloud computing services and using them to mine bitcoin.
John Jia, also known as Matthew Ho, was arrested on September 26 and charged with more than 14 counts, including theft of personal card information of residents of California, Texas, India and other geographical areas and using cloud computing services. without paying for it.
The Bitcoin and Ethereum mining operation by this scammer took place between October 2017 and February 2018.
The following was stated in the indictment:
Beginning in late 2017, which followed the rise in popularity of cryptocurrencies, he used stolen credit card information, along with fake email addresses he created designed to forge the original email account of victims’ identity holders in order to open accounts and access cloud computing services. .
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During the illegal “He” operation, he managed to raise $5 million by exploiting cloud computing services and paying with stolen credit cards.
Not only that, but from what the Justice Department press release states, for a while, Mr. “Hu” was one of the largest consumers of Amazon AWS services by volume of exploitation.
The Singapore Ministry of Justice announcement states that fraud is punishable by up to 20 years in prison.
Device fraud is punishable by up to 10 years in prison.
The charge of identity theft carries a two-year prison sentence, which can continue according to any other punishment imposed in the case.
Among the charges against Hu is making multiple unauthorized payments for goods and services using the victims’ credit cards.
Thus, he faces a prison sentence of up to 34 years.
On November 4, 2017, and on several dates thereafter, at least 16 payments of varying amounts totaling about $240,000 were made to one of the stolen credit cards by the fraudster “Hu”.
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Some of the money went towards payment due on your Google Cloud Services account and crypto mining expenses.
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