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Fraud

Cryptojacking Mastermind Sentenced to Prison for $4.5 Million Scheme

Strategic Insights

— 1 min read

Charles O. Parks III, also known as CP3O, was sentenced to one year and one day in prison for operating a large-scale cryptojacking operation that defrauded cloud computing services out of over $3.5 million in computing resources. Parks used the stolen resources to mine nearly $1 million in cryptocurrency, which he laundered through various channels and used to fund extravagant purchases, including a Mercedes-Benz and jewelry. Parks, who posed as an innovator and thought leader, was caught boasting about his profits on social media and YouTube, where he claimed to have achieved a "MultiMillionaire Mentality" through a "really nice crypto script."

Key Takeaways:

  • Charles O. Parks III, aka CP3O, was sentenced to one year and one day in prison for operating a large-scale cryptojacking operation.
  • Parks defrauded two well-known cloud computing services out of over $3.5 million in computing resources, which he used to mine nearly $1 million in cryptocurrency.
  • Parks laundered the cryptocurrency proceeds through various channels, including cryptocurrency exchanges, an NFT marketplace, an online payment provider, and traditional bank accounts.
  • Parks used the profits to make extravagant purchases, including a Mercedes-Benz, jewelry, and first-class hotel rooms.
  • Parks posed as an innovator and thought leader on social media and YouTube, where he claimed to have achieved a "MultiMillionaire Mentality" through a "really nice crypto script."
  • Parks was caught boasting about his profits on social media and YouTube, where he shared tips for achieving a "MultiMillionaire Mentality."
  • The government's case is being handled by the Offices National Security and Cybercrime Section, with Assistant United States Attorney Andrew D. Reich in charge of the prosecution.

Statistics:

  • $3.5 million: The worth of computing resources stolen from cloud computing services.
  • $1 million: The amount of cryptocurrency mined using the stolen resources.
  • $500,000: The amount of assets to be forfeited by Parks as part of the sentence.
  • 46: The age of Charles O. Parks III.
  • 2021: The year in which Parks began operating the cryptojacking scheme.
  • 2022: The year in which Parks uploaded a video to his YouTube channel boasting about his profits.

Sources:

  • "Charles O. Parks III (aka CP3O) Sentenced to 1 Year and 1 Day in Prison for Cryptojacking Scheme" (provided by Legal Monitor Worldwide, 2025)
  • Court documents in United States v. Charles O. Parks III (24-CR-105, E.D.N.Y.)
  • Press release from the United States Attorney's Office for the Eastern District of New York (2025)

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