California Man Sentenced to Prison for Laundering $230M Crypto Heist Funds

A 22-year-old man from California has been sentenced to 70 months in prison for laundering funds stolen in a massive $230 million cryptocurrency heist.

The scheme, which involved at least 14 suspects, was uncovered after two individuals stole over 4,100 Bitcoin worth more than $230 million by impersonating customer support at a Genesis crypto exchange creditor.

The victims were tricked into resetting their two-factor authentication and sharing their screens using the AnyDesk remote desktop application, allowing the perpetrators to gain access to the Bitcoin Core private keys.