Two Former Penn State Students Plead Guilty in Multi-Million Dollar Hacking Scheme

• •Two former Penn State students pleaded guilty to a wire fraud scheme.
• •The scam targeted over 50 victims, primarily the elderly, across 19 states.
• •Estimated losses from the scheme range from $4.4 million to $20 million.

Kuo Zhang, 33, and Hanlin Yang, both former Penn State students, pleaded guilty to conspiracy to commit wire fraud as part of a nationwide computer-hacking scam. The scheme defrauded over 50 victims across 19 states, primarily targeting elderly individuals, resulting in losses estimated between $4.4 million and $20 million. Victims were misled into believing their computers had been hacked, prompting them to transfer funds under false pretenses. Zhang's involvement included receiving and transporting cash to co-conspirators, while Yang acted as a courier. Both remain detained pending sentencing, with Zhang facing potential deportation. The scam operated from August 2023 to February 2024, exploiting vulnerabilities in trust and communication.