The Singapore-headquartered exchange was hit by a massive cyber attack that saw more than 44 million $ in digital assets stolen.
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Two individuals have been charged with stealing and laundering more than 230 million $ in cryptocurrency through a fraudulent scheme using sophisticated methods of concealing the funds
The indictment alleges that Malone Lam and Jandiel Serrano, 20 and 21, respectively, conspired to steal cryptocurrency from victims through online communications while impersonating others. They used VPNs, transaction mixing services and fake names to hide their identities and the stolen funds. The resulting cryptocurrency, including more than 4,100 bitcoins, was transferred through a series of transactions to hide the source of the funds and then spent on luxury goods such as travel, cars and designer accessories.
Lam and Serrano faced serious charges of conspiracy, fraud and money laundering. If convicted, they could face significant prison terms.
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