US Edition
Feds charge 13 men in $265 million crypto theft ring that blew $13M on exotic cars, nightclubs
- The U.S. Department of Justice charged 13 men in May 2025 for a racketeering conspiracy that stole over $263 million in cryptocurrency across the U.S. And abroad.
- The conspiracy began by October 2023 and involved hacking, social engineering, impersonation, and home break-ins to access victims' crypto accounts and launder stolen funds.
- Defendants, led by Malone Lam and aged 18 to 45, spent the stolen cryptocurrency on at least 28 exotic cars, rental homes, private jets, and nightclub services costing up to $500,000 per night.
- Investigators traced $243 million moving through over 15 exchanges and converted mostly to Monero, with Lam fraudulently obtaining 4,100 Bitcoin worth more than $230 million from a Washington, D.C. Victim on August 18, 2024.
- The ongoing probe is being conducted by the FBI, IRS, and U.S. Attorney’s Office, with the accused individuals charged with conspiracy under RICO statutes, fraudulent schemes involving electronic communications, financial crimes related to illicit funds, and interfering with the legal process, while maintaining the legal principle that they are innocent until proven guilty.
18 Articles
18 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…
Activist Post
DOJ Charges 12 With $263M Crypto Theft Linked to Genesis Creditor
Most of the individuals were arrested this week in California. What to know: The DOJ has charged 12 individuals in a $263 million crypto fraud and money laundering conspiracy. The scheme involved siphoning $243 million from a Genesis creditor using social engineering scams. Coinbase disclosed a data breach where scammers bribed employees, leading to potential payouts of up to $400 million. U.S. Department of Justice (DOJ) has charged 12 individ…
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…
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