This week, the U.S. Department of Justice (DOJ) charged 12 individuals for stealing over $263 million in cryptocurrency, linking them to a prior incident where scammers siphoned off $243 million from a Genesis creditor. According to a press release on Thursday, several individuals, including U.S. and foreign nationals, were arrested in California.
Coinbase revealed on Thursday that scammers bribed overseas employees to steal user data, potentially leading to payouts between $180 million and $400 million for the data breach. The charges against the 12 individuals range from racketeering and wire fraud to money laundering and obstruction of justice.
Blockchain sleuth ZachXBT reported that last year, a Genesis creditor was spoofed, resulting in the theft of $243 million in digital assets redirected through crypto mixers. Social engineering scams are increasingly used to steal crypto by tricking users into sending their crypto after obtaining personal information. Coinbase expects to voluntarily pay users between $180 million to $400 million for the data breach.
The DOJ alleges the proceeds funded luxury lifestyles, including exotic cars, private jets, and high-end property in US cities. The individuals are linked to an earlier investigation where scammers were able to siphon off over $243 million from a Genesis creditor. Several of the individuals charged, which includes U.S. nationals and foreign, were arrested in California this week, the DOJ said in a press release on Thursday.
On Thursday, Coinbase revealed that scammers were able to bribe some of their overseas employees and stole important user data from their database. The exchange expects to voluntarily pay users between $180 million to $400 million for the data breach.