Charles O. Parks III, known as CP3O, from Omaha, Nebraska, is indicted for a cryptojacking scheme costing cloud providers $3.5 million.

Parks mined nearly $1 million in cryptocurrencies like Ethereum, Litecoin, and Monero using resources from companies likely Amazon Web Services and Microsoft Azure.

He laundered the cryptocurrency and spent it on luxury items, creating multiple accounts and deceiving provider employees to avoid payments and obtain more services.

Facing up to 30 years in prison if convicted, Parks was arrested on April 13 and will appear in court on April 16.

The case is prosecuted in Brooklyn, New York, due to significant connections and multi-state involvement, highlighting FBI and NYPD's focus on tackling advanced cyber threats in collaboration with the private sector.