According to ChainCatcher, citing a report by The New York Times, Canadian national Trenton Johnston has pleaded guilty in a federal court in Florida, admitting his role in a money laundering conspiracy. Prosecutors said the case involved roughly $13 million in funds that originated from cryptocurrency fraud.
Court filings described a two-year scheme in which Johnston impersonated representatives of Google and cryptocurrency companies to persuade victims to hand over access to their accounts. After obtaining that access, he allegedly worked with accomplices to transfer and conceal the illicit proceeds. Prosecutors said the money was spent on luxury items and services, including high-end cars, jewelry, nightclub spending, and private jet travel.
The case also disclosed that Johnston used social engineering tactics to defraud a California resident of about 185 bitcoins, valued at approximately $13 million. The account access obtained through impersonation and deception was central to the way the stolen crypto assets were moved and hidden, according to the filings described in the report.
The investigation gained momentum after a March 2024 traffic stop in Miami. Johnston was pulled over by police while driving a Rolls-Royce at excessive speed. Officers reportedly detected what appeared to be the smell of marijuana in the vehicle and found suspected illegal drugs, prompting further scrutiny that led investigators to uncover his longer-running involvement in cryptocurrency fraud.
Data from the Federal Bureau of Investigation shows that losses from cryptocurrency-related theft exceeded $11 billion in 2025, up about 20% year on year. Johnston, described as a first-time offender, has reached a plea agreement with prosecutors. He is expected to face a prison sentence of four to five years and will be deported to Canada.