Canadian Man Charged in $13 Million Cryptocurrency Fraud Scheme

A 19-year-old Canadian man has been accused of being involved in a massive cryptocurrency fraud scheme that resulted in losses exceeding $13 million for victims.

According to the U.S. Attorney's Office for the Southern District of Florida, Trenton Richard David Johnston allegedly posed as a support representative for several companies to gain access to digital accounts and wallets.

The prosecutors claim that Johnston and his co-conspirators transferred victims' cryptocurrency holdings for their own benefit, using more than $1 million in illicit proceeds on luxury vehicles, jewelry, and nightlife expenses.