WALLINGFORD — Following a federal investigation, a local man has been charged in a scheme to steal bitcoins through an online phishing scheme.



Michael Richo, 34, of Wallingford, was charged Wednesday with computer fraud, wire fraud, access device fraud, identity theft and money laundering, according to the Department of Justice. He appeared in New Haven federal court on Wednesday and was released after posting $100,000 bond.



According to a statement released by federal authorities, Richo allegedly “engaged in an online phishing scheme to steal bitcoins from individuals on the dark web.”



Authorities say Richo posted fake links to online marketplaces on dark web forums. The links directed users to fake login pages that mimicked real login pages for various online marketplaces. Richo stole username and password information from individuals who used the fake login pages, according to the investigation. He would then monitor the individuals marketplace account and steal bitcoins when they were deposited into the account. Authorities say Richo then sold the stolen bitcoins to others in exchange for U.S. currency, which he deposited into his bank account.



Richo allegedly had over 10,000 stolen usernames and passwords on his computer, according to the investigation. It’s unclear how much money he allegedly stole.



— Andrew Ragali





