Two California Men Arrested by Feds for Allegedly Stealing $250,000,000 in Bitcoin From Washington D.C. Victim

FBI brokers have simply arrested two males accused of pulling off a heist through which one sufferer misplaced roughly 1 / 4 of a billion {dollars} price of Bitcoin (BTC).

America Lawyer’s Workplace for the District of Columbia say Authorities accuse California residents Malone Lam and Jeandiel Serrano of conspiring to steal and launder $250 million price of Bitcoin after robbing 4,100 BTC from a Washington DC sufferer.

Authorities allege the duo started the large theft on August 18, 2024, after contacting the sufferer.

After acquiring the massive Bitcoin treasure, the pair would lsank BTC by combining providers and exchanges utilizing ‘peel chains’ – a method utilized by criminals to launder giant quantities of digital property by means of a sequence of small transactions. Additionally they allegedly used pass-through wallets and digital personal networks (VPNs) to cover the actions of funds on-chain.

Lam and Serrano allegedly used the stolen cash for worldwide journey, nightclubs, luxurious automobiles, watches, jewellery, designer luggage and rental properties in Los Angeles and Miami.

In keeping with courtroom paperwork, that might be Lam and Serrano asked to forfeit all property obtained by means of the theft and to pay a financial judgment to the defendants if discovered responsible.

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