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 often known as “CP3O,” was sentenced to at least one yr and in the future behind bars in Brooklyn federal courtroom for stealing from two well-known cloud-computing companies in a bid to illicitly purchase digital belongings, based on 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,” acknowledged United States Legal professional Nocella.
— US Legal professional EDNY (@EDNYnews) August 15, 2025
The press launch outlines the observe of cryptojacking as “the unauthorized use or hijacking of one other get together’s assets, equivalent to electrical energy, {hardware}, or computing energy to mine cryptocurrency.”
The DOJ claims that Parks stole $3.5 million price of computing energy and storage, in addition to $1 million price of digital belongings, 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 lodge 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 price of assets to illegally mine one other million in cryptocurrency for private luxurious purchases,” acknowledged 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 know-how, stole tens of millions in pc assets, and illegally mined cryptocurrency—and in the present day’s sentencing holds him totally accountable for his deceitful actions,” acknowledged NYPD Commissioner Tisch.
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