TechFlow, May 16 — According to CNBC, federal prosecutors in Washington, D.C. have filed charges against 13 men accused of involvement in a large-scale cryptocurrency theft. The latest indictment states that the criminal group stole over $265 million in crypto assets, including approximately $245 million in Bitcoin taken from a single victim in Washington, D.C.
Main suspects include 20-year-old Singaporean Malone Lam and Conor Flasburg. The group used the illicit funds for luxury spending such as purchasing high-end vehicles ($9 million) and nightclub expenses ($4 million). Prosecutors say the criminals laundered the crypto assets using mixers, pass-through wallets, and virtual private networks, with some proceeds even transported hidden inside stuffed toys.
