They pulled off one of the largest cryptocurrency thefts in U.S. history, duping a stranger out of bitcoin worth over US$240-million. They tried to hide their digital fingerprints, carrying out a sophisticated scheme to launder the proceeds.

And then the party started.

The scammers – a network of young men in their late teens or early 20s – celebrated the August, 2024, heist by embarking on a wild spending spree. They purchased fleets of sports cars, flew on private jets, hired security guards and rented mansions in Miami and the Hamptons. An alleged ringleader, 22-year-old Malone Lam, spent over US$569,000 in one evening at a Los Angeles night club.

Their bender lasted a month before FBI agents arrested Lam on charges that he…