$BTC U.S. Department of Justice Charges 12 in $263 Million Cryptocurrency Fraud Case

According to PANews, the U.S. Department of Justice has charged 12 individuals in connection with a $263 million cryptocurrency fraud network allegedly orchestrated by Malone Lam. The group is accused of employing tactics such as social engineering scams, database breaches, and physical theft of hardware wallets. Lam himself faces charges for a single fraud amounting to $230 million. Currently, 10 of the defendants have been apprehended, while two accomplices remain at large in Dubai.