Crypto influencer Charles Parks was sentenced for allegedly orchestrating a multimillion-dollar “cryptojacking scheme,” a brand new press launch from the U.S. Division of Justice says.
Charles Parks Will get 1 Yr In Jail For Crypto Scheme
Charles O. Parks III, higher referred to as “CP3O,” was sentenced to at least one yr and sooner or later behind bars in Brooklyn federal court docket for stealing from two well-known cloud-computing companies in a bid to illicitly purchase digital property, in keeping with the August 15 press launch.
(1/2) “Parks branded himself as an innovator and a thought chief, however ultimately he was merely a fraudster whose secret to getting wealthy fast was mendacity and stealing,” said United States Lawyer Nocella.
— US Lawyer EDNY (@EDNYnews) August 15, 2025
The press launch outlines the apply of cryptojacking as “the unauthorized use or hijacking of one other social gathering’s assets, reminiscent of electrical energy, {hardware}, or computing energy to mine cryptocurrency.”
The DOJ claims that Parks stole $3.5 million value of computing energy and storage, in addition to $1 million value of digital property, between January and August 2021.
“After changing the ill-gotten cryptocurrency into {dollars}, Parks used the proceeds to make extravagant purchases, together with a Mercedes-Benz, jewellery, and first-class resort rooms, and to pay journey bills,” the press launch reads.
Cryptojacking Convict Lived Lifetime of Luxurious
Parks additionally used the huge blockchain scheme as a way of selling himself as a profitable crypto influencer, sharing recommendations on his YouTube channel on what he referred to as a “MultiMillionaire Mentality.”
“Charles Parks III stole greater than $3.5 million value of assets to illegally mine one other million in cryptocurrency for private luxurious purchases,” said FBI Assistant Director in Cost G. Raia. “Whereas Parks gloated throughout social media platforms, he failed to say his purported success was rooted in deceit and theft.”
“Charles Parks manipulated expertise, stole tens of millions in pc assets, and illegally mined cryptocurrency—and as we speak’s sentencing holds him totally accountable for his deceitful actions,” said NYPD Commissioner Tisch.
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