$263M Crypto Heist Exposed: Gamers Turned Gangsters in DOJ Takedown!
DOJ charges 12 in $263M crypto theft ring with RICO conspiracy! From gamers to robbers, uncover the lavish crime spree now!
On May 15, 2025, the U.S. Department of Justice (DOJ) dropped a bombshell, charging 12 additional suspects in a $263 million cryptocurrency theft ring tied to a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy. The group, which evolved from online gaming friends since October 2023, allegedly stole 4,100 Bitcoin ($243 million) from a Genesis creditor and $14 million from another victim, using social engineering, database hacks, and home break-ins. Posts on X are abuzz, shocked at the gang’s lavish spending—$500,000 nightclub nights, 28 exotic cars worth $3.8 million, and luxury goods.
How did they do it? The crew bought stolen databases to target crypto whales, impersonated cybersecurity teams via cold calls, and used SIM swaps and phishing to drain wallets. Stolen funds were laundered through crypto mixers, peel chains, and VPNs, funding a flashy lifestyle. The DOJ’s indictment, unsealed in Washington, D.C., adds to charges against lead defendant Malone Lam, arrested in September 2024, and includes wire fraud, money laundering, and obstruction of justice.
This bust could shake crypto markets, already volatile with Bitcoin at $105,000. It highlights the need for robust security—multi-factor authentication and cold wallets are musts. Yet, the case may fuel calls for stricter regulations, potentially impacting innovation. For beginners, it’s a stark reminder: crypto’s rewards come with serious risks.
Will this takedown clean up crypto crime? Share your thoughts below! Follow trafy.io for more crypto insights.
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The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
NOTICE:
The information provided on trafy.io does not constitute investment advice or recommendations. All investment and trading activities involve risks, and readers are advised to conduct their own research before making decisions.
