The U.S. Department of Justice charged 12 people with a $263 million crypto scam, with one victim losing 4,100 BTC

According to Mars Finance News, the U.S. Department of Justice has accused 12 defendants of participating in a cryptocurrency fraud and money laundering case worth $263 million. The criminal group, mostly young people who initially met through online games, stole victims' crypto assets through hacking, social engineering, and burglary. One victim lost approximately 4,100 bitcoins, valued at around $230 million. To conceal their illegal proceeds, suspects stuffed large amounts of cash into Squishmallows plush toys and mailed them through the U.S. postal system. Key suspects include 20-year-old Malone Lam (aka "King Greavys"), 19-year-old Marlon Ferro ("GothFerrari"), and 21-year-old Conor Flansburg ("Green Room"). According to the allegations, they once spent $500,000 in a single night at a nightclub and owned private jets and luxury cars worth millions. Currently, some suspects have been arrested in the United States, with two others reportedly residing in Dubai. (DL News)