U.S. man "Shrek" pleads guilty to involvement in $263 million cryptocurrency theft case

Jinse Finance reported that the U.S. Department of Justice announced on Tuesday that 45-year-old California resident Kunal Mehta (nicknamed "Shrek") has pleaded guilty to participating in a cryptocurrency theft case involving $263 million. Mehta admitted to violating the Racketeer Influenced and Corrupt Organizations Act (RICO) and assisting in laundering at least $25 million. According to the Department of Justice, Mehta is the eighth member to plead guilty in a cybercrime group of 13 people, which has been operating since October 2023, stealing cryptocurrency from victims across the United States through social engineering and hacking methods. Prosecutors stated that Mehta served as a "money launderer" in the group, providing cryptocurrency-to-cash laundering services and once delivered a suitcase containing about $500,000 in cash to a co-conspirator. The stolen funds were used to purchase nightclub services, luxury cars, watches, jewelry, designer handbags, and rental properties in Los Angeles and Miami. Assets seized in the case include 28 luxury cars, among them 7 Lamborghinis, 3 Ferraris, 1 Rolls-Royce, and 1 McLaren.