US EditionFeds charge 13 men in $265 million crypto theft ring that blew $13M on exotic cars, nightclubs
- Federal authorities charged 13 men for a $265 million cryptocurrency theft and laundering conspiracy spanning the U.S. And abroad in 2024 and 2025.
- The group has been active since at least October 2023, employing social engineering techniques by impersonating support agents to gain access to victims' cryptocurrency wallets.
- The suspects laundered over $243 million through mixers, shell companies, and repeatedly swapped crypto assets before spending on luxury cars, nightclubs, and private jets.
- An indictment alleges Malone Lam, arrested in September 2024, led the scheme including breaking into homes to steal wallets and directing theft while in pretrial detention.
- The ongoing investigation involves FBI and IRS units and reflects a broader 33% rise in internet crime losses reported in 2024, totaling $16.6 billion.
17 Articles
17 Articles
U.S. DOJ Charges 12 With $263M Crypto Theft Linked to Genesis Creditor
U.S. Department of Justice (DOJ) has charged 12 individuals for stealing over $263 million in crypto. The individuals are linked to an earlier investigation where scammers were able to siphon off over $243 million from a Genesis creditor. According to blockchain sleuth ZachXBT, last year one of the creditor of defunct trading firm Genesis was spoofed by a group of scammers, who were able to steal $243 million worth of digital assets and then red…
Twelve Defendants Charged in Massive $263 Million Crypto Scheme
The defendants, a mix of Americans and foreign nationals, are accused of running a cyber-enabled racketeering conspiracy that spanned the United States and overseas. The criminal enterprise, which allegedly started in October 2023, is believed to have been facilitated by friendships formed through online gaming platforms. Defendants Face Multiple Charges The indictment includes charges of RICO conspiracy, wire fraud, money laundering, and obstru…
12 more charged in $263M crypto theft and RICO conspiracy
12 more individuals have been charged in a RICO crypto theft case that allegedly netted over $263 million. A four-count superseding indictment unsealed this week in the U.S. District Court have added twelve new defendants to the RICO (Racketeer Influenced…
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