British man pleads guilty to conspiring to steal $8m in virtual currency
Summary
A British man named Tyler Buchanan pleaded guilty to helping steal at least $8 million in virtual money by hacking into company computers and tricking employees in the US. He used fake text messages to get login information and is set to be sentenced in August with a possible 22-year prison term.Key Facts
- Tyler Buchanan is 24 years old and from Dundee, UK.
- He pleaded guilty to conspiracy and identity theft crimes related to stealing virtual currency.
- The theft happened between September 2021 and April 2023.
- Buchanan and others sent fake text messages (phishing) to employees of various companies to steal login details.
- They targeted entertainment, telecom, technology, and virtual currency firms.
- At least $8 million worth of virtual currency was stolen from US individuals.
- Buchanan has been in US custody since April 2025 and will be sentenced on August 21.
- The case is linked to a cybercriminal group called Scattered Spider, with more suspects in the US facing charges.
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