U.K. man pleads guilty to hacking scheme that stole $8 million
Summary
A man from the United Kingdom pleaded guilty in a U.S. court for leading a hacking scheme that stole $8 million in virtual currency from people in the United States and other countries. He and his partners used fake messages to trick victims into giving personal information, which they used to steal money from digital wallets.Key Facts
- Tyler Robert Buchanan, 24, from Dundee, Scotland, pleaded guilty to conspiracy to commit wire fraud and aggravated identity theft.
- The hacking scheme ran from September 2021 to April 2023.
- The hackers sent fake messages claiming victims' accounts would be deactivated, directing them to fake websites.
- Victims from at least 45 companies in the U.S., Canada, India, and the U.K. were targeted.
- Buchanan faces up to 22 years in federal prison at a sentencing hearing on August 21.
- Three co-conspirators in Texas and North Carolina still face criminal charges.
- The FBI reported that cybercrimes caused American losses of nearly $21 billion in 2025.
- People over 60 lost about $7.7 billion last year, a 37% increase from 2024.
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