Crypto Heist Mastermind Sentenced to 6.5 Years in Prison for $230 Million Scam
A Notorious Cryptocurrency Heist Crew Member Sentenced to Prison
In a significant blow to a notorious cryptocurrency heist crew, a 20-year-old California man has been sentenced to 78 months in prison for his role in stealing over $250 million worth of digital currency.
According to US Attorney Pirro, “Ferro served as the criminal enterprise’s instrument of last resort. When his co-conspirators failed to deceive victims into handing over access to their cryptocurrency or hack their way into digital accounts, they turned to Ferro to break into homes and steal hardware wallets outright.”
The Heist Crew’s Modus Operandi
The crew’s modus operandi involved a range of sophisticated online and offline tactics, including:
- Monitoring victims’ digital activity
- Exploiting vulnerabilities in digital wallets
- Conducting physical break-ins to steal hardware wallets
- Laundering funds through various cryptocurrency exchanges
- Tracking victims’ locations through their iCloud accounts
Ferro’s Role in the Heist
Ferro pleaded guilty in October 2025 to his involvement in the massive heist. As part of his plea agreement, Ferro must pay $2.5 million in restitution and serve three years of supervised release following his prison term.
Other Members of the Crew
Twelve other suspects have been charged in connection with the heist, including Evan Tangeman, who was sentenced to 70 months in prison for laundering funds stolen in the same massive heist.
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