18 Charged with Stealing $263M Worth of Bitcoin Through RICO Scheme

Federal prosecutors have charged 18 individuals under the RICO Act for stealing over 4,100 Bitcoin worth about $263 million through a social engineering scheme.

The defendants impersonated officials to gain wallet access and spent lavishly, which helped investigators track them down.

This marks the first use of racketeering charges in a crypto theft case, despite the DOJ disbanding its crypto enforcement unit.