A U.S. federal court has handed a 78-month prison sentence to Huang Wenhui, identified by prosecutors as the ringleader of a cross-border fraud scheme that used counterfeit iPhones and iPads with stolen serial numbers to obtain genuine replacement devices from Apple Stores in Southern California. According to the U.S. Attorney’s Office for the Central District of California, the six-person group operated from December 2015 to March 2024 and fraudulently obtained more than 27,645 devices, causing Apple losses of at least $16.2 million. Prosecutors said counterfeit devices were smuggled in from China, then loaded with serial numbers and identifiers belonging to real North American customers whose products were still covered by warranty or AppleCare+. The devices were then presented at Apple retail stores as defective units eligible for replacement. Genuine replacement devices sent out by Apple were collected through dozens of rented UPS Store mailboxes in Southern California and forwarded to overseas accomplices, with many ultimately resold in China. Huang, 41, pleaded guilty in May 2025 and was ordered to pay $16,239,254 in restitution. Co-defendant Song Yang, 39, pleaded guilty in June 2025 to 21 counts of wire and mail fraud, trafficking in counterfeit goods, and conspiracy to commit money laundering. He received a 57-month sentence and was ordered to pay $16,997,415. The case was investigated by Homeland Security Investigations and IRS Criminal Investigation.

The U.S. government has seized more than $400 million in assets linked to the Helix darknet crypto mixer, including crypto and real estate. The platform processed over $300 million in illicit funds; founder Larry Dean Harmon pleaded guilty. Multi-agency collaboration with Belize assisted the investigation.

U.S. prosecutors said a federal grand jury has charged Sioux Falls, South Dakota, crypto investor Benjamin Paul Wiener with 29 criminal counts tied to an alleged $20 million fraud scheme. The charges include wire fraud, money laundering, bank fraud, and aggravated identity theft. According to the indictment, Wiener, 43, is accused of using false statements to persuade dozens of investors in South Dakota and Minnesota to send money and digital assets to several companies he controlled. Prosecutors allege that after obtaining the funds, Wiener moved assets through banks and cryptocurrency exchanges to conceal their source, ownership, and control, while using part of the money for personal expenses. They also say he kept recruiting new investors when cash ran short or when earlier investors sought redemptions, and used later funds to repay earlier ones, an operating pattern they describe as consistent with a Ponzi scheme. The indictment says the conduct involved eight companies, including several LLCs. Wiener is also accused of forging documents and communication records in April 2025 and using another person’s identifying information to obtain a $1 million line of credit from a financial institution in Sioux Falls. He appeared in court on July 10, pleaded not guilty to all charges, and was released on bond. Trial is scheduled for Sept. 15. The case is being investigated jointly by the Internal Revenue Service Criminal Investigation division and the FBI.

A California man has been sentenced to 78 months in prison for his role in a crypto crime ring tied to more than $250 million in thefts, including hardware wallet burglaries and money laundering.

The U.S. Department of Justice indicted two young men, ages 20 and 21, for allegedly stealing over 4,100 Bitcoin (worth more than $230 million at the time) from a victim in Washington, D.C. They used mixers, VPNs, and peel chains to launder the funds, spending proceeds on luxury cars, travel, and high-end goods. Both have been arrested.

Former Safemoon CEO Braden Karony received a 100-month federal prison sentence for defrauding investors, ordered to forfeit $7.5 million and two properties. He misappropriated over $9 million from liquidity pools for luxury purchases.

A US federal judge sentenced Safemoon's former CEO, Braden John Karony, to 100 months in prison for defrauding investors. He must forfeit $7.5 million and two properties after stealing over $9 million from the project's liquidity pools.

A U.S. federal judge sentenced former Safemoon CEO Braden John Karony to 100 months in federal prison for orchestrating a scheme that defrauded investors of over $9 million. He was also ordered to forfeit $7.5 million and two residential properties.