Crypto Influencer Sentenced in $3.5 Million Cloud Mining Scheme
A Brooklyn federal court has sentenced Charles Parks III—better known online as “CP30″—to jail for running a massive cryptojacking operation. Prosecutors say he stole over $3.5 million in cloud computing services to mine cryptocurrency, leaving providers footing the bill.
Cryptojacking, for those unfamiliar, is when someone hijacks computing power—often without permission—to mine digital coins. It’s like siphoning electricity from a neighbor’s outlet to run a side business. Only in this case, Parks allegedly went big, targeting two major cloud providers from January to August 2021.
Fake Companies, Real Theft
According to court documents, Parks set up a web of fake identities and shell companies, using domain names like “MultiMillionaire LLC” and “CP3O LLC” to trick providers into giving him more resources. He even claimed he needed the computing power for a global online training platform with “10,000 students.” There was no such business.
Instead, he used the stolen resources to mine Ethereum, Litecoin, and Monero, then laundered the profits through crypto exchanges, NFT platforms, and even traditional banks. The money bought him luxury cars, first-class travel, and high-end hotel stays.
But here’s the thing: Parks wasn’t exactly discreet. He bragged about his scheme in YouTube videos, framing it as entrepreneurial hustle. In one 2022 clip, he casually mentioned creating a “really nice crypto script” that let him earn seven figures without working most of the year.
The Fallout
Authorities caught on. The FBI traced his transactions, noting how he structured payments to avoid detection. By December 2024, Parks pleaded guilty to wire fraud and money laundering. He’ll forfeit $500,000 and a Mercedes-Benz, with restitution amounts still pending.
The U.S. Attorney for the Eastern District of New York didn’t mince words: “Parks gloated on social media, but his success was built on theft.” The message seems clear—cryptojacking might fly under the radar for a while, but it’s not a victimless crime.
And while Parks’ case is flashy, it’s part of a broader crackdown. Cloud providers are tightening safeguards, and law enforcement is tracking crypto laundering more closely. Whether that deters others, though, is another question. After all, the lure of easy money tends to outlast warnings.
