Lebanon Man Sentenced Following $37 Million Theft

Source: PHOTO: Ingram Publishing/Thinkstock

LEBANON, Ind. — A young man from Lebanon, Indiana, is facing 20 years behind bars…for helping steal more than $37 million in cryptocurrency.

Police say Evan Light worked with others to hack a financial company in Sioux Falls, South Dakota, in 2022. Information about other possible suspects was not provided.

Through this scheme, he was able to access the personal info of more than 500 victims, which was then used to steal the cryptocurrency. Many of the victims were planning to use their savings in retirement.

According to the Department of Justice, some of the money was later “funneled to various locations throughout the world, including multiple mixing services and gambling websites.”

Last year, Light pled guilty to conspiracy to commit wire fraud and conspiracy to launder monetary instruments. After prison, he will be subject to another three years of supervised release, and more.

Local newspaper The Lebanon Reporter notes that Light was only 19 when he hacked the institution in South Dakota, which may not have been his first major hack. He had previously dropped out of LHS.