Crypto Influencer Sentenced to 1 Year in Prison for $3.5M Cryptojacking Scam

A prominent crypto influencer, Charles Parks III—known online as “CP3O”—has been sentenced to one year and one day in federal prison for orchestrating a large-scale “cryptojacking” scam that defrauded cloud computing services of over $3.5 million in resources [1]. Parks, who cultivated an image as a crypto expert on social media and YouTube, used deceptive tactics to gain unauthorized access to cloud computing power, which he then exploited to mine cryptocurrency [2]. From January 2021 to August 2021, he illicitly mined approximately $1 million in digital assets, including Ethereum, Litecoin, and Monero [1].

Parks created multiple email addresses and domain names, including “MultiMillionaire LLC” and “CP3O LLC,” and falsely claimed to be building an online training company with 10,000 students [1]. In reality, these entities did not exist. He also manipulated cloud service providers into granting him elevated privileges and deflected inquiries about unusual usage and unpaid balances [2]. Prosecutors stated that Parks structured transactions through crypto exchanges, NFT marketplaces, online payment platforms, and traditional banks to launder the proceeds from his mining activities [1]. The illicit funds were used to purchase luxury assets such as a Mercedes-Benz, and to fund first-class travel and accommodations [2].

In a YouTube video, Parks boasted about achieving seven-figure earnings in a short period by developing a “crypto script” and claimed to not work for the rest of the year [1]. In December 2024, he pleaded guilty and agreed to surrender $500,000 in restitution and the luxury vehicle he had purchased [2]. The U.S. Attorney for the Eastern District of New York emphasized that Parks’ social media posts were based on theft and fraud, and that the sentence sends a clear message against cyber-enabled financial crimes [1].

The case underscores the growing regulatory focus on crypto-related fraud and the increasing complexity of schemes that exploit digital infrastructure for personal gain [1]. Parks’ conviction and sentencing reflect the legal consequences of using deception to access and misuse computing resources in the digital economy [2].

Source:

[1] https://www.mitrade.com/insights/news/live-news/article-3-1045950-20250817

[2] https://cryptorank.io/news/tag/scams