Charles O. Parks III, known online as "CP3O," has been sentenced to one year and one day in federal prison for orchestrating a $3.5 million cryptojacking scheme that defrauded major cloud computing providers. Between January and August 2021, Parks created fake corporate identities like "MultiMillionaire LLC" and "CP3O LLC" to gain elevated access to cloud services from two providers—described as a Seattle-based cloud/electronics subsidiary and a Redmond-based computing firm.
Parks fraudulently obtained computing resources valued at over $3.5 million, which he used to mine approximately $1 million worth of cryptocurrencies including Ether (ETH), Litecoin (LTC), and Monero (XMR). When providers questioned unusual usage patterns and unpaid balances—which reached millions—Parks deflected inquiries while continuing his operation. He laundered proceeds through exchanges, NFT marketplaces, and payment processors, converting funds to cash for luxury purchases including a Mercedes-Benz, jewelry, and first-class travel.
Parks leveraged his illicit gains to build credibility as a crypto influencer, promoting a "MultiMillionaire Mentality" and offering $10/month coaching subscriptions or $150 one-on-one consultations payable in his proprietary token. After pleading guilty to wire fraud in December 2024—avoiding original charges carrying a 50-year maximum sentence—he was ordered to forfeit $500,000 and the Mercedes-Benz, with restitution amounts pending determination.
NYPD Commissioner Jessica S. Tisch stated: "Charles Parks manipulated technology, stole millions in computer resources, and illegally mined cryptocurrency—today’s sentencing holds him fully accountable."