On May 16, according to CNBC, federal prosecutors in Washington, D.C. accused 13 men of conspiring in a broad scheme aimed at identifying victims holding large amounts of cryptocurrency, stealing these assets, and then laundering the proceeds.
Based on an alternative indictment obtained by CNBC on Thursday, the cryptocurrency stolen from victims in this case was worth over $265 million. The 13-person gang, which included Americans and foreigners, spent lavishly after stealing crypto assets, including spending $9 million on luxury cars, $4 million on nightclubs, and multiple rental properties.
One of the defendants is Malone Lam, a 20-year-old Singaporean, who was previously arrested and charged in connection with the largest theft, which involved stealing approximately $245 million in Bitcoin from a man in Washington, D.C. in mid-August. The indictment states that Lam used the money to purchase over 30 luxury cars, including Ferraris, Lamborghinis, Mercedes G-Wagons, a Rolls-Royce, a McLaren, and a Pagani. He is also alleged to have bought a watch worth $2 million.
