Scottish Man Pleads Guilty in Multi-Million Dollar Cybercrime Scheme
A man from Scotland has admitted to participating in a scheme to hack into the computer systems of multiple companies in the United States to steal virtual currency worth millions of dollars. Tyler Buchanan, a 24-year-old from Dundee, pleaded guilty to wire fraud conspiracy and aggravated identity theft charges. He was part of a group that used text message phishing tactics to deceive employees into revealing their login details, allowing unauthorized access to company systems.
Buchanan and his co-conspirators targeted telecommunications companies, IT suppliers, cloud communications providers, and virtual currency firms, as well as individuals, between September 2021 and April 2023. They sent numerous messages to employees posing as legitimate entities or their contracted partners. A search of Buchanan's residence in Scotland uncovered personal information of multiple victims, along with cryptocurrency seed phrases and login credentials for a victim's account.
The group developed a phishing kit to capture login credentials entered on fraudulent websites by employees of targeted companies. The stolen information was then sent to an online Telegram channel managed by Buchanan and another accomplice. Buchanan has been in US federal custody since April 2025 and is set to be sentenced on August 21, facing a maximum prison term of 22 years. Three other defendants, all from the US, are also facing charges related to the scheme.
One of the co-conspirators, Noah Michael Urban, pleaded guilty to multiple fraud charges in April 2025 and is currently serving a 10-year prison sentence. He was also ordered to pay restitution of $13 million. The US Department of Justice mentioned that Police Scotland assisted the FBI and other agencies in the investigation. The collaboration between law enforcement agencies led to the identification and prosecution of individuals involved in the cybercrime operation.