In a complex scam, two individuals, Malone Lam and Jeandiel Serrano, allegedly stole 4,100 Bitcoin from a victim and used the funds to purchase luxury cars, watches, and real estate. Pseudonymous crypto sleuth ZachXBT assisted in the investigation that led to the arrests of the suspects. According to ZachXBT, the defendants posed as representatives of Google Support and convinced the victim to reset their two-factor authentication credentials to gain access to the stolen Bitcoin. The stolen funds were allegedly passed through crypto mixers to hide their origins. Lam and Serrano were arrested and will face charges in multiple US district courts.
Analyst Jamie Coutts Says Crypto Market Could Be in the Final Throes of a Bearish Phase – Here’s Why