Tyler Robert Buchanan, a 24-year-old man from Dundee, Scotland, pleaded guilty in federal court to orchestrating a hacking scheme that stole $8 million in virtual currency from victims across the United States. According to multiple reports, Buchanan appeared in the Central District of California's federal court and admitted to one count of conspiracy to commit wire fraud and one count of aggravated identity theft.
Key Takeaways
Tyler Robert Buchanan, a 24-year-old from Dundee, Scotland, pleaded guilty to orchestrating a hacking scheme that stole $8 million in virtual currency from victims across the U.S. The scheme involved phishing attacks targeting at least 12 companies and their employees. Buchanan faces up to 22 years in prison.
- Tyler Robert Buchanan pleaded guilty to conspiracy to commit wire fraud and aggravated identity theft
- Scheme stole $8 million in virtual currency from U.S. victims between September 2021 and April 2023
- Buchanan targeted at least 12 companies, including those in the entertainment, telecommunications, technology, and virtual currency sectors
- He faces a maximum sentence of 22 years in federal prison with sentencing scheduled for August 21
The scheme, which ran from September 2021 to April 2023, involved phishing attacks targeting at least 45 companies in the United States and abroad. Buchanan and his co-conspirators sent text messages that appeared to be from victims' companies or contracted suppliers, luring employees into clicking on fraudulent links that mimicked legitimate websites. Once victims entered their personal information, the conspirators exploited the data to access virtual wallets and steal currency.
Buchanan has been in U.S. federal custody since April 2025 and is scheduled for sentencing on August 21, where he faces a maximum penalty of 22 years in prison. According to the U.S. Department of Justice, Buchanan's co-conspirators included Ahmed Hossam Eldin Elbadawy, Evans Onyeaka Osiebo, and Joel Martin Evans, who still face criminal charges.
The case highlights a broader trend of cyber-enabled crime. The Federal Bureau of Investigation (FBI) released a report earlier this year stating that such crimes defrauded Americans of nearly $21 billion in 2025. Scammers increasingly leveraged social media, messages, and AI to target people, with Americans over 60 being the most vulnerable demographic.
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