FBI probe leads to charges in $240M Bitcoin theft case

A group accused of stealing about $240 million worth of Bitcoin in the U.S. was caught after spending heavily on supercars, private jets and luxury homes, the AP reported. The suspects are accused of approaching a long-term crypto investor living in Washington, D.C., in August 2024 and stealing more than 4,100 BTC. After the theft, the group allegedly laundered the funds through multiple crypto exchanges and converted them into cash. Over a one-month period, the suspects spent about $4 million at nightclubs and kept up a lavish lifestyle by buying supercars and private jets, according to the report. A key break in the case came when one member of the group failed to hide an IP address on an exchange account opened to store about $30 million in stolen crypto. U.S. authorities have charged 18 people, including alleged ringleader Malone Lam. So far, 10 defendants in the case have pleaded guilty, and courts have already sentenced three accomplices to prison and other penalties.