DOJ Charges 12 Individuals in $263M Crypto Theft Case Linked to Genesis Creditor

The U.S. Department of Justice has indicted 12 individuals for allegedly stealing over $263 million in cryptocurrency. The group, which includes U.S. nationals and foreign actors, is connected to a sophisticated scam that siphoned $243 million from a creditor of the now-defunct Genesis trading platform.

Blockchain investigator ZachXBT revealed the theft occurred last year through social engineering tactics, with stolen funds routed through cryptocurrency mixers to obscure their trail. Authorities arrested several suspects in California this week, while two remain at large overseas.

Charges span multiple financial crimes including racketeering, wire fraud, money laundering, and obstruction of justice. The case highlights growing regulatory scrutiny of crypto-related financial crimes as digital asset adoption increases.