The post DOJ indicts 12 more in $236M crypto crime ring appeared on BitcoinEthereumNews.com.

The DOJ on Thursday charged 12 additional defendants in connection with a cybercrime ring that allegedly stole more than $263 million in crypto. U.S. prosecutors said the gang siphoned the funds through a sophisticated social engineering and hacking operation and spent the proceeds on expensive cars, nightclub blowouts, and luxury goods. According to the indictment, the gang started around October 2023 and continued through March 2025. The enterprise grew from friendships developed on online gaming platforms. The authorities revealed the gang is accused of committing crimes, including racketeering, wire fraud, and obstruction of justice. DOJ charges 12 more individuals from a cybercrime ring Additional 12 Defendants Charged in RICO Conspiracy for over $263 Million Cryptocurrency Thefts, Money Laundering, Home Break-Ins 🔗https://t.co/5jPyk1XN6A@USAttyPirro @FBIWFO @IRS_CI @FBILosAngeles @FBIMiamiFL pic.twitter.com/WLP84c0bZp — U.S. Attorney DC (@USAO_DC) May 15, 2025 The DOJ said the superseding indictment adds charges originally brought against Malone Lam on September 19, 2024. The additional individuals arrested alongside Lam include U.S. citizens and foreign nationals. Arrests were made in California, and warrants were issued for two individuals believed to be in Dubai. The indictment noted that all but one are aged between 18 and 21, with two defendants’ identities unknown beyond their online pseudonyms. The indictment revealed that the members held different responsibilities, including database hackers, organizers, target identifiers, callers, money launderers, and residential burglars targeting hardware virtual currency wallets. Of the thirteen defendants, twelve face RICO conspiracy charges, nine have an additional charge of conspiracy to launder monetary instruments and eight face conspiracy charges to commit wire fraud. One last defendant, 19-year-old John Tucker Desmond, is charged with obstruction of justice for destroying evidence. The indictment alleged that the gang laundered the stolen virtual currency proceeds by moving funds through various mixers and exchanges using peel chains, pass-through wallets, and virtual…

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Filed under: News - @ May 16, 2025 9:21 am