California Man Sentenced in $250 Million Crypto Theft and Burglary Scheme

Federal Court Hands Prison Sentence in Major Crypto Crime Case

A California man has been sentenced to 78 months in federal prison for his role in a nationwide cryptocurrency theft operation that prosecutors say stole more than $250 million in digital assets.

Marlon Ferro, also known online as “GothFerrari,” was ordered to serve more than six years in prison, followed by three years of supervised release. The court also directed him to pay $2.5 million in restitution connected to the fraud scheme.

Social Engineering Ring Targeted Crypto Investors

According to prosecutors, the operation used social engineering tactics, hacked databases, fraudulent phone calls and residential burglaries to target victims holding large amounts of cryptocurrency. Authorities said the group operated between late 2023 and early 2025.

Investigators revealed that Ferro was allegedly used when other members failed to gain access to crypto wallets remotely. In one case during February 2024, he traveled to Texas and stole a hardware wallet containing roughly 100 Bitcoin worth more than $5 million at the time.

Crypto Laundering and Burglary Charges

Officials also connected Ferro to another attempted burglary in New Mexico in July 2024, where he searched for additional crypto hardware wallets. He was later arrested in May 2025 after authorities found firearms and fake identification documents in his possession.

Federal prosecutors described the case as part of a growing wave of crypto related fraud and organized theft across the United States.