California man sentenced to over 6 years for role in $250 million cryptocurrency heist

A 20-year-old California man has been sentenced to 78 months in prison for his involvement as a home invader and money launderer in a criminal ring that stole over $250 million in cryptocurrency. Marlon Ferro, also known online as GothFerrari and Marlo, was arrested in May 2025 and pleaded guilty in October. He was also ordered to pay $2.5 million in restitution and serve three years of supervised release, as reported by Bleeping Computer.

The criminal ring targeted individuals believed to hold significant cryptocurrency between late 2023 and early 2025, using social engineering to gain access to digital wallets. When victims used hardware wallets, the conspiracy shifted to residential burglaries, with Ferro serving as the "instrument of last resort." He broke into homes to steal hardware wallets containing substantial amounts of Bitcoin, such as one incident in February 2024 where he stole approximately 100 Bitcoins, then valued at over $5 million. Ferro also laundered funds through cryptocurrency exchanges and opened fraudulent digital payment accounts.

Fourteen suspects were charged in connection with the scheme, which involved over 4,100 Bitcoin, with stolen funds financing lavish lifestyles including luxury purchases, international travel, and high-end vehicles. Another individual, Evan Tangeman, was previously sentenced to 70 months for his role in laundering funds from the same heist.

Source: Bleeping Computer