Tech
A US man convicted of stealing hundreds of millions of dollars in cryptocurrency through home invasions
A Florida man has been convicted of plotting to steal cryptocurrency, but not in the way you might expect. Remy St Felix, a 24-year-old from West Palm Beachera found guilty by a federal jury in North Carolina for his role in overseeing a gang that broke into homes across the United States, violently kidnapped citizens and stole their cryptocurrency.
While US$1.7 billion (RM8 billion) in cryptocurrencies were stolen last year, the largest share was achieved through hackers breaching wallets and exchanges remotely, according to Chainalysis. Cryptocurrencies stolen in person, such as by physically forcing a victim to empty an account, are reported much less often.
St Felix was convicted of nine counts, including conspiracy, kidnapping and using a firearm to commit other violent crimes. He is scheduled to be sentenced on September 11 and faces a prison sentence of seven years to life.
According to prosecutors, St Felix led a gang that targeted cryptocurrency owners between September 2022 and July 2023. In total, gang members stole hundreds of millions of dollars in cryptocurrency by forcing their way into homes and holding victims captive until they drained their accounts.
St Felix planned and orchestrated a series of robberies in Florida, North Carolina, Texas and New York. His sentencing Wednesday is one of more than a dozen related to the case.
“A horrible and painful experience”
Once the targets were chosen, the gang would hack into their email accounts and conduct physical surveillance prior to the attacks. St Felix and his co-conspirators reportedly attempted to cover their tracks using encrypted messaging platforms.
Once stolen, the funds were laundered through Monero, a cryptocurrency that provides greater anonymity, and through “instant exchanges” such as Changelly, Shapeshift and ChangeNOW, which require no customer fact-checking, according to prosecutors.
One example of an assault presented to the jury occurred in April 2023. Here, St Felix and his gang forced their way into a house, where they attacked, bound with zip ties and held the victim at gunpoint. As the gang threatened to use even more violence against the victim and her spouse, the victim forcibly transferred US$150,000 (RM708,150).
“The victims in this case endured a horrific and painful experience that no citizen should have to endure,” U.S. Attorney Sandra J. Hairston for the Middle District of North Carolina said in a statement. “The defendant and his co-conspirators acted purely out of greed and callously terrorized those they targeted. The jury’s verdict in this case represents a critical step in ensuring justice for these victims.” – Fortune.com/The New York Times