Scottish Man Pleads Guilty in $8 Million Phishing and Crypto Theft Scheme

Buchanan faces up to 22 years in prison for conspiring to hack companies and steal virtual currency

Apr. 18, 2026 at 2:25pm

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An extreme close-up photograph of a cracked and damaged smartphone screen, conceptually representing the aftermath of a major cybercrime incident.A damaged smartphone screen symbolizes the aftermath of a sophisticated phishing and cryptocurrency theft scheme that cost victims millions.Dallas Today

A 24-year-old man from Dundee, Scotland has pleaded guilty to conspiring to hack into company computer systems through text message phishing attacks and steal at least $8 million in virtual currency from victims across the United States. Tyler Robert Buchanan faces up to 22 years in federal prison for the scheme, which involved multiple co-conspirators and targeted a range of companies and individuals from September 2021 to April 2023.

Why it matters

This case highlights the growing threat of cybercrime and the sophisticated tactics used by criminal groups to steal millions through phishing, SIM swapping, and other hacking methods. It also underscores the need for companies and individuals to be vigilant about cybersecurity and protecting sensitive data and virtual currency accounts.

The details

According to his plea agreement, Buchanan and his co-conspirators carried out SMS phishing attacks by sending text messages to employees of targeted companies that appeared to be from legitimate sources. When victims entered their login credentials on the fraudulent websites, the data was captured and used to access employee accounts and company systems. The stolen information was then used to access virtual currency accounts belonging to individuals, including through SIM swap attacks to take control of victims' phone numbers.

  • Buchanan pleaded guilty on April 18, 2026.
  • Buchanan is scheduled to be sentenced on August 21, 2026.
  • The cyber intrusions and virtual currency thefts occurred from September 2021 to April 2023.

The players

Tyler Robert Buchanan

A 24-year-old man from Dundee, Scotland who pleaded guilty to conspiring to hack into company computer systems and steal at least $8 million in virtual currency.

Noah Michaek Urban

Also known as Sosa or Elijah, a 21-year-old from Palm Coast, Florida who previously pleaded guilty to three fraud-related offenses and was sentenced to 10 years in federal prison.

Ahmed Hossam Eldin Elbadawy

Also known as AD, a 24-year-old from College Station, Texas who was charged in the case.

Evab Onyeaka Osiebo

A 21-year-old from Dallas who was charged in the case.

Joel Martin Evans

Also known as Joeleoli, a 26-year-old from Jacksonville, North Carolina who was charged in the case.

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What’s next

Buchanan is scheduled to be sentenced on August 21, 2026. Several other defendants charged in the case remain pending.

The takeaway

This case underscores the need for companies and individuals to be vigilant about cybersecurity and protecting sensitive data and virtual currency accounts, as criminal groups continue to develop new methods to steal millions through sophisticated hacking and phishing schemes.