18 charged in first U.S. crypto RICO case over 263 million BTC theft

U.S. federal prosecutors have charged 18 individuals with conspiracy under the Racketeer Influenced and Corrupt Organizations Act (RICO) related to the theft of 263 million dollars worth of BTC. This is the first significant case where RICO charges have been applied to a cryptocurrency theft. Malone Lam, identified as the ringleader, and others allegedly posed as representatives from Google and Gemini in August 2024 to gain wallet access information from a victim, resulting in the theft of over 4100 BTC. Investigators discovered that the stolen funds were subsequently laundered through cryptocurrency exchanges and used to purchase luxury cars, private jets, and mansions. If Lam's planned guilty plea proceeds as scheduled, it would mark the 11th guilty plea among the defendants associated with this case.

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