A person from California, who used the nickname “Shrek”, has pleaded responsible to serving to a gaggle steal massive sums of cryptocurrency, in accordance with US officers.
Kunal Mehta confessed to working with others in a plot that concerned each digital theft and cash laundering.
He was charged underneath the RICO Act and admitted to shifting at the least $25 million of unlawful funds by cryptocurrency platforms. His position included changing stolen digital cash into conventional cash.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
What’s a Crypto Mining Rig? Is it Value it? (EASILY Defined)
In line with prosecutors, Mehta was not solely often known as “Shrek”. He additionally used names like “Papa” and “The Accountant”.
Authorities stated he was launched to the group and supplied providers to assist cover the stolen funds by changing crypto to money or wires, for a price.
The group’s operation started round October 2023. Officers famous that members took on varied obligations, together with figuring out potential victims, hacking into methods, and even breaking into bodily places. Mehta and 6 others have been recognized particularly as cash launderers.
The Justice Division acknowledged that the group stole a complete of $263 million in cryptocurrency from folks throughout the US.
Mehta is the eighth particular person to confess guilt in reference to the case. He was the oldest particular person charged and one in every of 5 members dwelling in California.
Just lately, federal prosecutors filed expenses towards Firas Isa, founding father of Crypto Dispensers, for laundering over $10 million by digital wallets. How did the case unfold? Learn the total story.
