Accused identity thief and Miami resident Damon Patrick Toey, one of the 11 people arrested last month for perpetrating the largest credit card heist in history, pleaded guilty last week to charges of wire fraud, credit card fraud, and aggravated identity theft.

Toey is currently free pending sentencing, said a spokeswoman for the federal prosecutor’s office. His freedom is severely limited, however, as he is subject to confinement at his family home in Virginia, electronic monitoring, and is prohibited from using computers.

Federal prosecutors say Toey first helped the unnamed group’s ringleader, fellow Miami resident Albert Gonzalez, steal money from New York-area ATM machines in 2004. The two then moved on to the vulnerable computer networks of Miami-area retail stores, where their focus switched to the theft and sale of credit card numbers.

Gonzalez pleaded “not guilty” to similar charges at another hearing later in the day.

Massachusetts District Judge William G. Young, in explaining his decision to grant probation, told Toey that he could face more than 30 years in prison for his crimes. The exact nature of his sentence, however, cannot yet be determined as prosecutors are still working out the dollar amount for damages inflicted.

Toey says he plead guilty because an actual trial could make things “a lot worse,” as prosecutors have plenty of dirt, “other than what I’m pleading guilty to,” on him.

The group that Toey and Gonzalez belonged to stands accused of stealing more than 41 million credit card numbers from TJX stores T.J. Maxx and Marshalls, as well as a variety of other U.S. retail stores including OfficeMax, Boston Market, Barnes & Noble, Sports Authority, and Forever 21. Its actions, particularly the 2005 heist against TJX, have inflicted more than $200 million in damages.

A federal sting shut the group down early last month, and its members – only three of whom are U.S. citizens – are set to appear before a Boston court.

Unimpressed by the group’s techniques, security analysts accused its 11 members of using simple tactics and making a variety of mistakes. Attempting to sell 41 million credit card numbers, in an underground where most transactions deal in thousands, was its most costly mistake – a so-called “embarrassment of riches,” according to Black Hat and DEFCON conference founder Jeff Moss.

The Justice Department, however, touted the bust as one of its largest victories in an escalating war against identity thieves and cybercrime.

“How do you move 41 million credit card numbers?” said Moss. “That’s like trying to rob Fort Knox by yourself.”