Crypto Influencer Sentenced to One Year in Prison for $3.5M Cryptojacking Fraud
A self-styled crypto influencer has been handed a prison term for orchestrating a large-scale cryptojacking scheme that defrauded two major cloud service providers of millions in computing resources.
DOJ Secures Conviction
The U.S. Department of Justice (DOJ) announced on Friday that Charles O. Parks III, known online as “CP3O,” was sentenced by a Brooklyn federal court to one year and one day in prison. Prosecutors said Parks misappropriated more than $3.5 million worth of cloud resources to illegally mine cryptocurrencies.
Between January and August 2021, Parks exploited elevated computing privileges he obtained using fake corporate entities, including “MultiMillionaire LLC” and “CP3O LLC.” The scheme allowed him to mine nearly $1 million in Ether (ETH), Litecoin (LTC), and Monero (XMR).
Cryptojacking involves the unauthorized use of computing resources — such as cloud servers or electricity — to mine cryptocurrencies.
Fraud Disguised as a Tech Startup
According to the DOJ, Parks misled providers by claiming he was developing an online education platform for 10,000 students. In reality, there was no training company — the resources were used exclusively to mine crypto.
When questioned about suspicious usage and mounting unpaid balances, Parks allegedly evaded inquiries while continuing the operation.
“Charles Parks manipulated technology, stole millions in computer resources, and illegally mined cryptocurrency — today’s sentencing holds him fully accountable,” said NYPD Commissioner Jessica S. Tisch.
Lavish Lifestyle Funded by Stolen Crypto
Prosecutors detailed how Parks laundered his mined crypto through exchanges, NFT marketplaces, online payment services, and banks. The proceeds were converted into cash to purchase luxury items, including a Mercedes-Benz, jewelry, and first-class travel.
A 2024 indictment revealed that Parks had opened accounts with subsidiaries of two major U.S. tech giants — one a Seattle-based cloud computing and consumer electronics provider, the other a Redmond-based personal computer and services firm.
As part of his sentencing, Parks was ordered to forfeit $500,000 and his Mercedes-Benz, with restitution to be determined later.
From “Crypto Mentor” to Convicted Fraudster
Parks attempted to parlay his ill-gotten gains into an online persona as a crypto mentor. He boasted of his wealth in videos and launched a website promoting his “MultiMillionaire Mentality” program — a subscription-based coaching service priced at $10 per month, with one-on-one consulting at $150. Rewards were even offered in his own crypto token.
But federal prosecutors said his brand was built on lies.
“In the end, he was merely a fraudster whose secret to getting rich quick was lying and stealing,” said U.S. Attorney Nocella Jr.
