A dozen more suspects have been added to a Massive crypt theft CASE. Based on reports, the new names go to Malone Lam, which was first accused on September 19, 2024. They are now facing allegations bound to steal 4 100 Bitcoin in August last year and wash about $ 263 million.
The group is facing federal racketeering fees
According to the Ministry of Justice prosecution On May 15, 2025, 12 people add to the original case against lamb. Everyone is from California and most are between 18 and 22 years old.
A previous respondent, Jeandiel Serrano, was dropped from the updated archiving. DOJ says some of the accused are behind bars, while two are believed to live in Dubai.
Another 12 accused accused of Rico Conspiration for over $ 263 million Cryptocurrency theft, money laundering, home burglary
🔗https://t.co/5jpyk1xn6a@Usattypirro @Fbiwfo @Irs_ci @Fbilosangleles @Fbimiamifl pic.twitter.com/wlp84c0bzp
– US lawyer DC (@usao_DC) May 15, 2025
Online games to real theft
Based on reports, this ring began as a group of friends who played online games in October 2023. They then went on to hack databases and make cold calls to deceive crypto holders into handing over access.
According to the investigators, Lam even hacked a victim’s iCloud to track their movements, and a partner as the nickname “The Accountant” or “Goth Ferrrari” would break into homes to steal hardware wallets.
Crypto and cybercrimes are on the rise. Image: rdaniluk/stock.adobe.com
Bitcoin & money laundering networks exposed
DOJ says the stolen revenues – more than $ 230 million from a single incident on August 18, 2024 – run through VpnCrypto mixer and peel -chain tactics.
A scale chain works by changing agents through many wallets and scaleing small amounts each time. These steps made it more difficult for law enforcement to track the money, officials noted.
Expensive expenses for stolen funds
Based on reports, the suspected gains blew on advanced nightlife, exotic cars and luxury. They spent as much as $ 500,000 on one night at clubs.
They rented 28 exotic cars – some valued at $ 3.8 million each – and bought designer bags, watches and clothes. Fake ID was used to rent homes and private jet aircraft, all paid with the stolen bitcoin.
Total crypto market cap at $3.28 trillion on the daily chart: TradingView.com
A growing emphasis on crypto security
This case illustrates how quickly technical young youth can become criminals. This indicates that hardware wallets require good physical security and that digital accounts must use multifactor authentication more than SMS.
Crypto owners must be careful against uninitiated support calls and hire services that lock down iCloud and e -mail accounts.
Next step in the prosecution
All defendants are charged during Rico and facial bills of wire fraud and money laundering. Court register shows that they can have decades in prison if sentenced.
DOJ says that this replacement prosecution sends a clear message: no matter how complex the system, law enforcement can break it apart.
Image from Oteer, Chart from TradingView
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