🚨 DOJ Charges 12 in $263M $BTC Crypto Theft Linked to Genesis Creditor
The U.S. Department of Justice has charged 12 individuals in one of the largest crypto fraud cases this year, involving over $263 million stolen from a creditor of the defunct trading firm Genesis.
What You Need to Know:
🔹 The scammers used advanced social engineering to siphon $243 million in digital assets.
🔹 Stolen funds were laundered through crypto mixers to cover their tracks.
🔹 Most suspects, including U.S. nationals, were arrested this week in California; two remain abroad.
🔹 Charges include racketeering, wire fraud, money laundering, and obstruction of justice.
Related: Coinbase Data Breach
Scammers bribed Coinbase overseas employees to steal sensitive user data.
Coinbase expects to pay $180M to $400M in voluntary compensation.
This breach happened just days before Coinbase’s S&P 500 listing.
Why It Matters:
Social engineering scams are on the rise, targeting even the biggest players.
Security must evolve beyond tech — personal vigilance is critical.
The crypto industry is under increasing regulatory and legal scrutiny.
Stay informed. Stay secure.
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