Nebraska man arrested for stealing computing power to mine $1 million worth of cryptocurrency

The US Department of Justice has accused 45-year-old Charles O. Parks III of stealing cloud computing services worth $3.5 million and mining cryptocurrency worth $1 million through a so-called "cryptojacking" scheme. Cryptojacking involves using someone else's computing power to mine cryptocurrency for oneself. According to official government information, Parks is suspected of defrauding two "well-known" cloud computing providers, engaging in telecommunications fraud, money laundering, and illegal currency transactions. Parks will make his first appearance in federal court on April 16 and was initially arrested in Nebraska on April 13.