Prosecutors charge crypto theft ring in D.C.

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Prosecutors charge crypto theft ring in D.C.

Malone Lam, a defendant in a $230 million bitcoin heist, in a booking photo from the Broward County Sheriff’s Office in Florida.

Broward County Sheriff’s Office

Federal prosecutors in Washington, D.C., have charged 13 young men in what court records describe as a wide-ranging conspiracy to identify victims with substantial holdings of cryptocurrency, steal those assets, and then launder the proceeds.

More than $265 million in crypto was stolen from the victims, according to a superseding indictment obtained Thursday by CNBC.

One of the defendants, Malone Lam, was previously charged in connection with the largest of those thefts, which netted about $245 million in crypto from a man in D.C.

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