Miami-resident Malone Lam has pleaded guilty to leading a USD 245 million crypto fraud ring that stole roughly 4,100 bitcoin through online scams and home-invasion robberies.
Core Summary INTERPOL has coordinated a massive global anti-fraud operation with law enforcement agencies from multiple countries, successfully arresting over 5,800 criminal suspects. The operation uncovered a crypto money laundering network using cross-chain swap technology to hide funds, with associated wallets processing up to $122.5 million in illegal funds over 10 months. Event Overview According to TheBlock, this global law enforcement action targeted various fraud crimes including investment scams, phishing, and business fraud. Law enforcement discovered that criminal organizations are increasingly using cryptocurrencies for fund transfers and laundering, particularly through cross-chain swap technology to move assets between different blockchains, increasing tracking difficulty. ...