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British man pleads guilty to conspiring to steal $8m in virtual currency
Prosecutors said Buchanan and co-conspirators used SMS phishing to steal login credentials and access accounts at at least a dozen companies.
- Tyler Robert Buchanan, 24, of Dundee, Scotland, pleaded guilty Friday to wire fraud and aggravated identity theft, admitting to stealing at least $8 million in virtual currency from victims across the United States.
- Between September 2021 and April 2023, Buchanan and co-conspirators used Short Message Service phishing attacks to lure employees to fraudulent websites, capturing login credentials to access company systems and virtual currency accounts.
- The DOJ identified co-conspirators including Noah Michael Urban, 21, of Palm Coast, Florida, who pleaded guilty in April 2025; other defendants named were Ahmed Hossam Eldin Elbadawy, Evab Onyeaka Osiebo, and Joel Martin Evans.
- Scheduled for August 21, Buchanan faces a maximum of 22 years in prison, while co-conspirator Urban previously received a 10-year sentence and was ordered to pay $13m in restitution.
- The FBI continues investigating the case, which involved alleged activity linked to the cyber-criminal collective Scattered Spider; while Buchanan and Urban have entered pleas, criminal charges remain pending against three other American defendants in their 20s.
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British Man Pleads Guilty To Plot To Steal $8m In Cryptocurrency
What if a simple text message could cost you thousands — or even millions?That’s exactly what happened in a massive cybercrime case involving 24-year-old Tyler Buchanan from Dundee. According to the US Department of Justice, Buchanan has pleaded guilty to helping orchestrate a scheme. That stole at least $8 million in cryptocurrency from victims across the United States.The group used SMS phishing — sending fake texts that tricked employees into…
The Scotsman+3 Reposted by 3 other sources
Scottish man admits role in £5.9m US cyber fraud scheme
Buchanan pleaded guilty to one count of conspiracy to commit wire fraud and one count of aggravated identity theft.
·Scotland, United Kingdom
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Total News Sources16
Leaning Left4Leaning Right1Center7Last UpdatedBias Distribution59% Center
Bias Distribution
- 59% of the sources are Center
59% Center
L 33%
C 59%
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