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British-Nigerian Man Admits Guilt in $6 Million Bank Hacking Offenses in New York


Idris Dayo Mustapha, a British-Nigerian, has confessed to engaging in cyberattacks over a seven-year period, leading to losses exceeding $6 million for banks and brokerages. Mustapha, 33, entered a guilty plea before U.S. District Judge Pamela Chen in Brooklyn, admitting to charges such as access device fraud, conspiracy to commit computer intrusion, securities fraud, and wire fraud conspiracy. Mustapha, originally from Lagos, was arrested in the UK in August 2021 and subsequently extradited to the U.S. His sentencing is scheduled for April 3, 2024, with a potential maximum prison term of 20 years, though a shorter sentence is anticipated.

The cybercriminal and his associates allegedly employed phishing and other tactics from January 2011 to March 2018 to obtain usernames and passwords, facilitating unauthorized access to online accounts. Prosecutors state that the perpetrators transferred funds and securities from victims’ accounts to their own, executing unauthorized stock transactions. Simultaneously, they conducted profitable trades in the same stocks within their personal accounts. The legal proceedings are under U.S. v. Mustapha, filed in the U.S. District Court, Eastern District of New York, with case number 23-cr-00440. Mustapha’s lawyer has not yet provided a comment on the case.


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