U.S. Justice Department charges 12 people with $263 million in cryptocurrency theft and money laundering

The U.S. Department of Justice announced RICO conspiracy charges against 12 defendants, involving over $263 million in criminal proceeds, including cryptocurrency theft, money laundering, and burglary. Suspects obtained cryptocurrency database information through hacking techniques and screened targets, impersonating bank or exchange staff to conduct phone fraud, and converting proceeds into cash or luxury goods through money laundering networks. The primary suspect, Malone Lam, is alleged to have fraudulently obtained over 4,100 bitcoins and continued criminal activities through accomplices after being arrested.