A 24-year-old British man from Dundee has pleaded guilty in the United States to conspiring to hack the computers of at least a dozen companies and steal at least $8 million (₹74.70 crore) in virtual currency from people in the country, according to the US Department of Justice. Tyler Buchanan, who has been in US federal custody since April 2025, is due to be sentenced on August 21 and faces a maximum sentence of 22 years in prison.
The case centres on a cyber fraud operation that prosecutors said ran from September 2021 to April 2023. Investigators alleged that Buchanan and his co-conspirators targeted entertainment, telecommunications, technology and virtual currency companies through SMS phishing attacks designed to trick employees into revealing confidential personal details, including account names and passwords.
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Phishing Campaign Targeted Company Employees
According to the Department of Justice, the group sent hundreds of phishing messages to employees of the targeted organisations. Once credentials were obtained, they were used to access accounts and steal confidential company information.
Buchanan admitted in his plea agreement that he and several co-conspirators used the stolen information to take millions of dollars’ worth of virtual currency. Prosecutors said the scheme led to the theft of at least $8 million (₹74.70 crore) in virtual currency assets from individuals across the United States.
Evidence Recovered From Scotland Home
Investigators said a digital device found at Buchanan’s home in Scotland contained the names and addresses of numerous people. Authorities also said the device held a file containing cryptocurrency seed phrases and login details for one victim’s account.
Buchanan pleaded guilty to one count of conspiracy to commit wire fraud and one count of aggravated identity theft. The charges form part of a wider US investigation into cyber attacks and related fraud activity.
Broader Probe Continues Around Co-Conspirators
In November 2023, Buchanan was charged by US authorities alongside four American men and youths in their twenties and teens over alleged activity linked to the cyber-criminal collective Scattered Spider. The Department of Justice named 21-year-old Noah Michael Urban as a co-conspirator and said he pleaded guilty in April 2025 to three fraud-related counts.
Urban is serving a 10-year federal prison sentence and has been ordered to pay $13 million (₹120.38 crore) in restitution. The FBI is continuing to investigate the case, while three other defendants, all based in the United States and in their twenties, are also facing criminal charges.
