Stunning Admission of Guilt in $371M BTC Phishing Scheme Reveals Weaknesses in Crypto Security

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

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Updated: Dec 09 2025

Guilty Plea in Major Phishing Scam: A key conspirator has pleaded guilty in a $371 million Bitcoin phishing scam that involved a fraudulent online gaming platform, highlighting vulnerabilities in the cryptocurrency space.
Operation Details: The scam, executed between October 2023 and May 2024, utilized social engineering tactics to deceive users into connecting their crypto wallets, resulting in the theft of 4,100 Bitcoin.
Law Enforcement Progress: The guilty plea marks a significant victory for law enforcement, indicating improved capabilities in tracking and prosecuting complex crypto crimes, while also offering hope for victim restitution through potential asset seizures.
Protective Measures Against Scams: The incident emphasizes the importance of vigilance, recommending users verify platform authenticity, use hardware wallets, enable multi-factor authentication, and be cautious of unrealistic investment promises to safeguard their assets.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

Stunning Admission of Guilt in $371M BTC Phishing Scheme Reveals Weaknesses in Crypto Security

About the author

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