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Party’s Over for Crypto Scammers Who Went on a Spending Spree After a $240 Million Bitcoin Theft
Malone Lam's plea hearing approaches in the $240 million bitcoin social engineering theft; the case highlights surging crypto fraud and limited enforcement.
Malone Lam, accused of organizing a social engineering attack that stole over $240 million in bitcoin (4,100+ BTC) from a Washington, D.C. resident in August 2024, has a plea agreement hearing set. Callers impersonating Google and Gemini staff tricked the victim into revealing security codes. Lam and 17 co-defendants spent lavishly before FBI arrests; crypto investment fraud complaints to the FBI rose nearly 50% in 2025 while DOJ disbanded its crypto crimes unit.
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US charges Iranians for sprawling hacking campaign on government agencies, universities
DOJ indicts 17 Iranians tied to Mabna Institute IRGC hacking-for-hire campaign that stole 31TB from universities, agencies, and UN organizations.
The U.S. Justice Department unsealed a 14-count superseding indictment charging 17 people linked to the Mabna Institute, allegedly operating on behalf of the IRGC, in a campaign running since around 2013. The group breached 144 US universities, 42 US companies, 178 foreign universities, 11 foreign companies, and agencies including the Department of Labor, Federal Energy Regulatory Commission, and Hawaii and Indiana state governments, plus UN organizations such as UNICEF, stealing at least 31 terabytes of academic and proprietary data and about 8,000 professor email accounts. The State Department offered a $10 million reward for five individuals including Behzad Mesri, previously indicted for the $6 million HBO extortion; universities spent roughly $20 million on investigation and remediation.
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Eight years later, federal authorities re-up charges against alleged Iranian hackers at Mabna Institute
US prosecutors unsealed a superseding indictment charging 17 Iranians in the Mabna Institute's state-sponsored theft of 31.5 terabytes from universities and companies.
The superseding indictment unsealed in the Southern District of New York charges 17 people affiliated with Tehran's Mabna Institute, adding eight defendants to the 2018 indictment of nine. The institute allegedly compromised over 100,000 professor email accounts worldwide, including 8,000 accounts at 144 US universities, and stole at least 31.5 terabytes of academic journals, dissertations, and e-books. US universities spent approximately $3.4 billion procuring the stolen data, and victims also included at least five federal and state agencies, 42 US companies, and 11 foreign companies including HBO. The State Department's Rewards for Justice program is offering up to $10 million for information on four of the defendants.
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