TechFlow News: On May 7, according to Cointelegraph, Marlon Ferro, a 20-year-old man from California known online as “GothFerrari,” was sentenced to 78 months of federal imprisonment, three years of supervised release, and ordered to pay $2.5 million in restitution for his involvement in a cryptocurrency theft ring responsible for over $250 million in losses. Prosecutors stated that when co-conspirators failed to remotely infiltrate victims’ systems or trick them into surrendering their crypto assets, Ferro would break into victims’ homes to steal hardware wallets containing funds. The group operated from late 2023 through early 2025 and its members were also involved in database breaches, target identification, fraudulent phone calls, and money laundering. The investigation was led by the FBI and the IRS Criminal Investigation Division.
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