Thirteen Individuals Accused of Running $265 Million Cryptocurrency Scam
U.S. Cracks Down on Global Cryptocurrency Theft Network
In 2024, the U.S. Department of Justice (DOJ) charged 13 individuals in a wide-ranging cryptocurrency theft and fraud case. The case involves various sophisticated illicit methods and a criminal network that has affected both U.S. and global victims.
Key Defendants and their Roles
The key known defendants include Noah Michael Urban, a 20-year-old hacker affiliated with the cybercrime gang Scattered Spider, and Geoffrey K. Auyeung, indicted as a co-conspirator linked to a $97 million investment fraud scheme.
Urban is accused of participating in SIM swapping attacks and social engineering to hijack victims' cryptocurrency accounts and breach company networks. Auyeung is believed to have received major portions of fraudulent proceeds from an oil and gas investment fraud.
Two other key figures, Keonne Rodriguez and William Lonergan Hill, co-founders of Samourai Wallet, pleaded guilty in 2025 for operating a crypto mixing service that laundered over $200 million in illicit cryptocurrency.
Alleged Methods
The criminal network employed various methods to carry out their illicit activities, including SIM swapping and social engineering, business email compromise (BEC) and impersonation, cryptocurrency mixing services, and other scams such as coordinated ransomware attacks, fraud, cyber intrusions, phishing schemes, and decentralized finance protocol exploits.
Use of Stolen Funds
The stolen cryptocurrency was often laundered through mixing services to obscure its origins. Funds were re-invested or kept by conspirators, as in Auyeung’s case who received major portions of fraudulent proceeds from an oil and gas investment fraud. Restitution orders and seizures are ongoing, with millions of dollars in cryptocurrency seized or subject to forfeiture lawsuits.
Ongoing Investigation
The investigation is ongoing, being managed by the DOJ, and coordinating with international partners as the case expands. The full list of all 13 individuals has not been publicly disclosed, but the described individuals are among the key figures charged by the DOJ since 2024 in connection with this global cryptocurrency theft and fraud network.
These efforts reflect a coordinated law enforcement crackdown on criminals exploiting cryptocurrency for theft, laundering, and cyber-enabled fraud.
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