Feds Arrest Alleged Crypto Crooks for Stealing $230 Million in Bitcoin
The Men Behind the Crime
In a recent development, two individuals have been arrested by federal authorities for allegedly stealing approximately $230 million worth of Bitcoin. The accused men, identified as Malone Lam, 20, from Miami, Florida and Los Angeles, California, and Jeandiel Serrano, 21, from Los Angeles, are said to have used a social engineering scheme to carry out their illegal activities. The Department of Justice (DOJ) has claimed that the stolen funds were then used to purchase luxury cars, watches, and real estate.
According to pseudonymous crypto sleuth ZachXBT, who played a key role in the investigation, the two defendants executed a highly sophisticated social engineering attack. In a series of tweets, ZachXBT explained that the criminals contacted a creditor of the bankrupt crypto lender Genesis, pretending to be representatives of Google Support. By doing so, they tricked the victim into resetting their two-factor authentication, which ultimately provided the defendants with access to the stolen Bitcoin.
The Use of Crypto Mixers
To cover their tracks, Lam and Serrano allegedly employed the use of crypto mixers. These applications are designed to obfuscate the movement of funds and make it difficult to trace transactions. By routing the stolen Bitcoin through these mixers, the defendants aimed to hide their activities from authorities.
The Arrest and Legal Proceedings
Following a joint operation between law enforcement agencies, Lam and Serrano were apprehended and taken into custody. They will face charges in the U.S. District Court for the Southern District of Florida and the Central District of California.
As the investigation continues, it is expected that additional funds may be recovered during the arrests. Large transfers around the time of the criminal activities indicate the possibility of further seized assets.
“As a result of the investigation Box and Greavys were arrested yesterday evening in Miami and LA.”
The efforts of law enforcement and contributors like ZachXBT have led to the capture of the suspects and shed light on the elaborate nature of the crime. The case serves as a reminder of the importance of practicing strong security measures and being vigilant when dealing with cryptocurrencies.
While Genesis, the crypto lender involved in this case, has made efforts to repay users who suffered losses due to its bankruptcy, incidents like this underscore the ongoing challenges faced by the cryptocurrency industry.
Image Sources:
1. #CryptoCrimeAlert
2. #BitcoinHeist
3. #SocialEngineeringScam
4. #CryptoMixerTactics
5. #CryptocurrencySecurityAwareness
autor do artigo principal Mathew Di Salvo
ref:https://decrypt.co/250384/feds-arrest-alleged-crypto-crooks-stealing-230-million-bitcoin
