Key Takeaways
- Ferro received 78 months for a $250 million RICO scheme targeting U.S. cryptocurrency holders.
- Bitcoin and hardware wallet users face rising physical threats as crypto fraud evolves beyond the screen.
- The FBI and IRS-CI continue monitoring global networks to seize assets and pay $2.5 million in restitution.
The ‘Instrument of Last Resort’
A U.S. federal court has sentenced a California man to 6 1/2 years in prison for his role in a social engineering conspiracy that authorities say stole more than $250 million in cryptocurrency.
Marlon Ferro, 20, of Santa Ana, was also ordered by U.S. District Judge Colleen Kollar-Kotelly to serve three years of supervised release and pay $2.5 million in restitution. Ferro, known by the…
