A California man, Marlon Ferro, has been sentenced to 78 months in prison for his role in a nationwide scheme that stole over $250 million in cryptocurrency. The U.S. Department of Justice revealed that Ferro, known as "GothFerrari," was part of a criminal group that used social engineering and home invasions to access victims' crypto assets. In addition to his prison term, Ferro will serve three years of supervised release and must pay $2.5 million in restitution. The group targeted individuals with significant cryptocurrency holdings, employing tactics such as database hacking, fraudulent phone calls, and burglary. In one instance, Ferro traveled to Texas in February 2024, where he broke into a home and stole a hardware wallet containing 100 bitcoins, valued at over $5 million. The investigation also uncovered that Ferro helped launder the stolen funds through crypto trading platforms.
California Man Sentenced to 6.5 Years for $250M Crypto Theft
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