Twelve additional individuals have been indicted for their alleged involvement in a sprawling $263 million cryptocurrency theft, which included the high-profile theft of 4,100 Bitcoin from a Genesis creditor in August 2024. The U.S. Department of Justice (DOJ) unveiled the charges in a statement released on May 15.
These new defendants were named in a superseding indictment based on an earlier case filed against the scheme’s alleged ringleader, Malone Lam, last September. One person from the original indictment, Jeandiel Serrano, was notably absent from the updated filing.
Authorities said several of the accused have already been taken into custody, while two are believed to be residing in Dubai. Most of the group’s members, aged between 18 and 22 and known online by aliases like “Goth Ferrari” and “The Accountant,” are based in California.
According to the DOJ, the operation started in October 2023 as a group of friends bonded over online gaming before evolving into what prosecutors call a “cyber-enabled racketeering conspiracy.” Members were allegedly assigned various roles ranging from database hacking and social engineering scams to physical burglaries aimed at stealing cryptocurrency hardware wallets.
A significant portion of the haul, worth over $230 million, stemmed from a single incident on August 18, 2024. Lam is accused of fraudulently obtaining the victim’s 4,100 Bitcoin by hacking into their iCloud account and surveilling them. At the same time, another defendant, Marlon Ferro, allegedly broke into the victim’s home to seize crypto storage devices.
In addition to racketeering, the suspects face wire fraud and money laundering charges. Prosecutors allege the group splurged their crypto gains on 28 luxury cars, including one worth $3.8 million, extravagant nightclub outings that ran up to $500,000 a night, and high-end handbags, designer clothing, and luxury watches.
Meanwhile, in May 2024, A New York court approved a landmark $2 billion settlement between bankrupt crypto lender Genesis and the New York Attorney General’s Office (NYAG).
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
