By Philip Maina
6 days agoTue Sep 17 2024 10:47:20
Checking out Time: 2 minutes
25-year-old Remy St Felix from Florida has actually been sentenced to 47 years in jail for leading a gang of 13 individuals to take bitcoin through home intrusions. The gang took over $3 million in between September 2022 and July 2023 and utilized decentralized procedures to wash the profits. Felix was purchased to pay $524,000 in restitution and his co-conspirators were likewise purchased to pay differing quantities covering practically all the funds that were taken in the plan, something that increases the success of police in tracking cryptocurrency thefts.
Other Gang Members Sentenced
According to the United States Department of Justice (DOJ), the gang utilized zip ties and weapons to bind and frighten their victims. Other members of the gang were sentenced to in between 5 and 20 years in jail and bought to pay in between $300,000 and $4 million in restitution.
One co-conspirator, Jesus Manuel Santiago, is arranged to be sentenced on October 1. Felix was founded guilty in June and condemned on several counts consisting of wire scams and kidnapping. It’s, nevertheless, uncertain how Felix and his group gotten info about their victim’s crypto holding.
Utilizing Unorthodox Means to Evade Arrest
Felix’s sentencing comes as fraudsters increase targeting victims on social networks platforms, a method that Felix might have utilized to profile crypto holders. It likewise comes 3 weeks after a crypto fraudster was detained in South Korea in spite of carrying out cosmetic surgery to mask his physical identity.
It likewise comes a month after Chainalysis anticipated that central crypto exchange hacks are bound to increase.
With Felix’s gang founded guilty and sentenced, police continue to get insights on how to manage cryptocurrency thefts.
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