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A man from Britain has admitted to participating in a conspiracy to hack into the computer systems of multiple companies and to steal a substantial amount of virtual currency, totaling at least $8 million (£5.9 million), from victims in the United States. Tyler Buchanan, 24 years old and originally from Dundee, along with several accomplices, carried out fraudulent schemes targeting companies and their employees through SMS phishing campaigns, according to the US Department of Justice.
The phishing attacks involved sending deceptive text messages to employees’ mobile phones, directing them to malicious websites designed to capture sensitive personal information such as account usernames and passwords. With these stolen credentials, Buchanan and his group gained unauthorized access to accounts at various entertainment, telecommunications, technology, and cryptocurrency firms between September 2021 and April 2023, as the DOJ outlined.
Buchanan, who has been detained by US federal authorities since April 2025, is scheduled to be sentenced on 21 August. He faces up to 22 years in prison. Evidence recovered from his residence in Scotland included data files listing numerous individuals’ names and addresses, along with cryptocurrency seed phrases and login details for at least one victim’s account. This evidence supported the prosecution’s claim that the conspiracy involved the theft of millions of dollars’ worth of virtual currency from people across the US.
In addition to pleading guilty to conspiracy to commit wire fraud and aggravated identity theft, Buchanan was charged alongside four American males in November 2023. These co-defendants, linked to the cyber-criminal group known as Scattered Spider, also face charges. Among them is 21-year-old Noah Michael Urban, who pleaded guilty earlier in 2025 to multiple fraud counts and is currently serving a ten-year prison sentence while having been ordered to pay $13 million in restitution. The FBI remains active in the investigation, pursuing charges against three other US-based defendants in their twenties
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