A multi-national cryptocurrency fraud ring that allegedly defrauded victims worldwide over a quarter of a billion dollars has come under increased scrutiny from the US Department of Justice (DOJ).
The case now has 27 defendants in total after the charges were filed under the Racketeer Influenced and Corrupt Organisations Act (RICO). Malone Lam, a 20-year-old who is at the centre of the investigation, is charged with planning one of the biggest individual cryptocurrency thefts in American history.
Lam is suspected of stealing over 4,100 Bitcoin, or about US $230 million, from a single victim in Washington, DC.
Lam, who went by multiple internet aliases such as “Anne Hathaway” and “$$$,” is accused of collaborating with Jeandiel Serrano (also known as “VersaceGod”) to carry out a complex social engineering attack on a guy identified as an extremely wealthy early crypto investor.
After bombarding the victim with phoney Google security warnings warning of unauthorised login attempts, Lam and Serrano are said to have called the guy and impersonated Google support professionals
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This article has been indexed from CySecurity News – Latest Information Security and Hacking Incidents
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