September 19, 2024 at 06:57PM
Two suspects, Malone Lam and Jeandiel Serrano, were arrested in Miami for stealing over $230 million in cryptocurrency. They gained unauthorized access to victims’ crypto accounts, laundered the proceeds, and financed lavish lifestyles. Investigators identified a third conspirator known as “Wiz.” The FBI tracked the suspects through their spending and social media posts.
Certainly! After reviewing the meeting notes, it is evident that two suspects, Malone Lam and Jeandiel Serrano, were arrested for allegedly conspiring to steal and launder over $230 million in cryptocurrency. They reportedly gained unauthorized access to victims’ cryptocurrency accounts, transferred funds into crypto wallets under their control, and then laundered the proceeds using various methods, including crypto mixers, exchanges, and VPNs to hide their identities.
Their lavish spending on international travel, luxury items, and nightclub outings in Los Angeles and Miami exposed them, leading to their arrest by the FBI. Additionally, a third alleged conspirator known as “Wiz” was identified and caught after making OPSEC blunders, linking the laundered funds to the original stolen amounts.
It’s clear that the investigative efforts, including the work of crypto fraud investigator ZachXBT, played a crucial role in identifying the suspects and tracing the laundered funds. The use of tools such as screen sharing and tracing transactions between multiple cryptocurrency exchanges helped in uncovering the illegal activities of the suspects.