20-year-old California resident Marlon Ferro, known online as “GothFerrari,” was sentenced to 78 months in prison for his role in a cryptocurrency theft operation tied to more than $250 million in stolen digital assets.

Federal prosecutors said Ferro participated in a criminal network active between late 2023 and early 2025. Members of the group, based in California, Connecticut, New York, Florida, and overseas, carried out roles that included database hacking, target identification, fraudulent phone calls, money laundering, and residential burglary.

Criminals targeted individuals believed to hold large cryptocurrency assets and used fraud schemes to gain access to their digital wallets. When victims stored cryptocurrency in hardware wallets that could not be accessed remotely, the operation turned to Ferro to break into homes and steal the devices in person.

“Marlon Ferro served as the criminal enterprise’s instrument of last resort. When his co-conspirators couldn’t deceive victims into handing over access to their cryptocurrency or hack their way into digital accounts, they turned to Ferro to break into homes and steal hardware wallets outright,” U.S. Attorney Jeanine Ferris Pirro stated.

“This scheme blended sophisticated online fraud with old-fashioned burglary to drain victims of millions of dollars in digital assets,” added Pirro.

According to court records, members of the group used stolen cryptocurrency to purchase exotic cars, watches, handbags, rental properties, private jet travel, and private security.

“Members and associates of the social engineering enterprise used stolen virtual currency to purchase, among other things, nightclub services ranging up to $500,000 per evening,” prosecutors said.

The investigation also identified him as a key money launderer for the operation. Authorities stated that he used fraudulent identification documents to open accounts on a geo-blocked payment platform, allowing members of the group to spend stolen funds at retail stores and nightclubs in Miami and other locations.

Investigators also linked him to more than $255,000 in designer clothing purchases made with stolen cryptocurrency. After one of the group’s leaders was arrested in September 2024, he allegedly continued supporting the operation by converting cryptocurrency into cash to pay legal fees and arranging the purchase and shipment of Hermès Birkin bags for the co-conspirator’s girlfriend.

Ferro was arrested on May 13, 2025, while carrying two firearms and a fake identification document. He later pleaded guilty to conspiracy to commit wire fraud and was ordered to pay $2.5 million in restitution and serve three years of supervised release.