In brief
- Twelve more defendants have been charged in a sweeping cyber-fraud case.
- The alleged cybercrime ring laundered crypto through mixers, shell companies, and stuffed toys.
- It comes as the FBI reported crypto investment fraud had spiked to $5.8B in losses last year.
U.S. prosecutors have charged 12 more people in connection with a cybercrime ring that allegedly stole more than $263 million in crypto through a sophisticated social engineering and hacking operation and spent the proceeds on expensive cars, nightclub blowouts, and luxury goods.
The charges, unsealed Thursday in a four-count indictment against Malone Lam, 20, and Jeandiel Serrano, 21, were announced by the U.S. Attorney’s Office for the District of Columbia, the FBI,…
