Two California men arrested by government for allegedly stealing $250,000,000 worth of bitcoins from a victim in Washington DC

FBI agents have just arrested two men accused of committing a robbery in which a victim lost about a quarter of a billion dollars worth of Bitcoins (BTC).

The U.S. Attorney's Office for the District of Columbia says authorities are charging California residents Malone Lam and Jeandiel Serrano with conspiracy to steal and launder $250 million worth of bitcoins after they robbed a victim in Washington DC of 4,100 BTC.

Authorities believe the duo began the robbery on August 18, 2024, after making contact with the victim.

After receiving the large Bitcoin treasure, the coupleThey smuggled BTC through mixing services and exchanges using peel chains – a technique used by criminals to launder large amounts of digital assets through a series of small transactions. They also allegedly used pass-through wallets and virtual private networks (VPNs) to hide the movement of funds on-chain.

Lam and Serrano allegedly spent the stolen funds on international travel, nightclubs, luxury cars, watches, jewelry, designer bags and rental homes in Los Angeles and Miami.

According to court documents, if found guilty, Lam and Serrano will be ordered to surrender all property obtained through the theft and pay a fine to the defendants.

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Generated image: Midjourney