California resident sentenced for stealing $250 Million in cryptocurrency
One of the largest thefts involved 100 BTC worth more than $5 million.
07.05.2026 - 14:30
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Key points:
- A US court sentenced Marlon Ferro to 78 months in prison for his role in a crypto-crime scheme.
- According to investigators, the group stole digital assets worth more than $250 million.
According to the U.S. Department of Justice, Ferro will serve 78 months behind bars, followed by three years of supervised release. He was also ordered to pay $2.5 million in restitution.
Prosecutor Jeanine Pirro stated that Ferro stepped in when other members of the group failed to gain access to victims’ digital assets through phishing calls or account hacks. In those cases, Ferro allegedly broke into the homes of cryptocurrency wallet owners and stole hardware devices that provided access to the funds.
Investigators believe the criminal network operated for nearly two years, from late 2023 through early 2025. The group reportedly combined social engineering tactics, cyber fraud, and traditional home burglaries.
Criminals Targeted Wealthy Crypto Holders
During the investigation, law enforcement determined that the group specifically targeted wealthy cryptocurrency holders. Members allegedly gathered information on potential victims, organized fraudulent phone calls, and used crypto exchanges to launder stolen funds.
One incident took place in February 2024, when Ferro traveled to Texas and stole a hardware wallet containing approximately 100 BTC. At the time, the stolen bitcoin was valued at more than $5 million.
Another attempted theft occurred in New Mexico during the summer of 2024. Surveillance cameras captured the suspect during the illegal break-in. Ferro was eventually arrested in May 2025, when police reportedly found weapons and fake identification documents during a search.
Ferro later pleaded guilty to charges related to participation in an organized criminal group.
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