Wallingford Man Stole More Than 10K Usernames, Passwords in Dark Web Phishing Scheme: Feds

WALLINGFORD, CT — A Wallingford man is accused of stealing more than 10,000 usernames and passwords in a dark web phishing scheme to steal bitcoins, according to authorities.

Michael Richo, 34, was arrested Wednesday on a criminal complaint charging him with access device fraud, computer fraud, wire fraud, identity theft and money laundering offenses in connection with a scheme to steal bitcoins in an online phishing scheme, U.S. States Attorney Deirdre M. Daly and Patricia M. Ferrick, Special Agent in Charge of the New Haven Division of the FBI, announced in a joint press release.

Richo is accused of engaging in an online phishing scheme to steal bitcoins from individuals on the dark web, according to the criminal complaint. Bitcoins are a form of electronic currency and online marketplaces on the dark web typically accept them as a payment method.

Authorities say Richo posted fake links to online marketplaces on dark web forums. The links directed people to a fake login page that looked like the real login pages for the various online marketplaces.

When people attempted to log in, Richo is accused of stealing their username and password.

“Once he had an individual’s username and password, Richo monitored the individual’s bitcoin balance at the real marketplace,” Daly wrote in a press release. “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 a bank account that Richo controlled.

Richo is accused of having more than 10,000 stolen usernames and passwords saved on his computer.

Money laundering carries a maximum term of imprisonment of 20 years, wire fraud carries a maximum term of imprisonment of 20 years, access device fraud carries a maximum term of imprisonment of 10 years, computer fraud carries a maximum term of imprisonment of five years, and aggravated identity theft carries a mandatory term of imprisonment of two years, according to Daly.

Richo was released on a $100,000 bond on Wednesday.

Image via Shutterstock

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