FEDS: Wallingford man admits to stealing bitcoins in dark web phishing scheme
WALLINGFORD — Authorities said a Wallingford man is facing criminal charges after police said he admitted to an online phishing scheme.
“According to the court documents and statements made in court, Richo engaged in an online phishing scheme to steal bitcoins from individuals on the dark web. Bitcoins are a form of electronic currency, and online marketplaces on the dark web typically accept them as a payment method,” said FEDS.
Police said Richo admitted that he posted fake links to online marketplaces on dark web forums.
“The links directed individuals to a fake login page that looked like the real login pages for the various online marketplaces. When individuals attempted to log in, Richo stole his or her username and password. Once he had an individual’s username and password, Richo monitored the individual’s bitcoin balance at the real marketplace. If the individual later deposited bitcoins with the real marketplace, Richo withdrew the bitcoins before the individual could spend them and caused the stolen bitcoins to be deposited into his own bitcoin wallet. Richo then sold the stolen bitcoins to others in exchange for U.S. currency, which was deposited into bank accounts that Richo controlled or was provided to him through Green Dot Cards, Western Union transfers, and MoneyGram transfers,” Feds said.
Richo is said to have obtained more than $365,000 through the alleged scheme along with over 10,000 usernames and passwords saved on his computer.
Richo pleaded guilty to one count of access device fraud, an offense that carries a maximum term of imprisonment of 10 years, and one count of money laundering which can carry a maximum term of imprisonment of 20 years.