The U.S. Department of Justice announced that charges have been filed against 12 other individuals accused of being involved in an over $200 million cryptocurrency theft and laundering scheme following the arrest and indictment of Malone Lam and Jeandiel Serrano in September, The Record reports.
Attacks, which commenced in October 2023, entailed the use of information from pilfered databases to target individuals with significant cryptocurrency assets, who were then subjected to social engineering schemes resulting in the theft of millions worth of cryptocurrency, according to the Justice Department. Cryptocurrency lender Genesis also had one of its creditors subjected to an intrusion in August involving the suspects impersonating customer support agents from the Gemini cryptocurrency exchange. With the target lured to perform a multi-factor authentication reset, the suspects were able to pilfer the wallet's funds and transfer them to a controlled wallet, in addition to obtaining the victim's private keys, reported cryptocurrency researcher ZachXBT.
Attacks, which commenced in October 2023, entailed the use of information from pilfered databases to target individuals with significant cryptocurrency assets, who were then subjected to social engineering schemes resulting in the theft of millions worth of cryptocurrency, according to the Justice Department. Cryptocurrency lender Genesis also had one of its creditors subjected to an intrusion in August involving the suspects impersonating customer support agents from the Gemini cryptocurrency exchange. With the target lured to perform a multi-factor authentication reset, the suspects were able to pilfer the wallet's funds and transfer them to a controlled wallet, in addition to obtaining the victim's private keys, reported cryptocurrency researcher ZachXBT.
