$250 million cryptocurrency heist funded luxury fashion, nightclub parties, and private jets

Federal prosecutors sentenced Marlon Ferro (aka “GothFerrari”) to 78 months in prison for his role in a multi-state criminal network that between late 2023 and early 2025 used database intrusions, social engineering, fraudulent phone calls, money laundering, and residential burglaries to steal over $250 million in cryptocurrency. Ferro acted as the group’s in-person recovery agent—breaking into homes to steal hardware wallets when online theft or deception failed—and also laundered funds via fake IDs and geo-blocked payment platforms; he pleaded guilty to conspiracy to commit wire fraud and was ordered to pay $2.5 million in restitution.