Bitcoin Bandits Busted: DOJ Charges 12 In $263 Million Cyber Heist

A dozen more suspects have been added to a massive crypto theft case. Based on reports, the new names join Malone Lam, who was first indicted on September 19, 2024. They now face charges tied to stealing 4,100 Bitcoin last August and laundering roughly $263 million.

Group Faces Federal Racketeering Charges

According to the Department of Justice, the superseding indictment brought on May 15, 2025, adds 12 people to the original case against Lam. All are from California and most are between 18 and 22 years old.

One earlier defendant, Jeandiel Serrano, was dropped from the updated filing. The DOJ says some of those charged are behind bars, while two are believed to be living in Dubai.

Additional 12 Defendants Charged in RICO Conspiracy for over $263 Million Cryptocurrency Thefts, Money Laundering, Home Break-Ins

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