Threat Intelligence California man sentenced to over 6 years for role in $250 million cryptocurrency heist May 8, 2026 Share By SC Staff (Adobe Stock) A 20-year-old California man has been sentenced to 78 months in prison for his involvement as a home invader and money launderer in a criminal ring that stole over $250 million in cryptocurrency. Marlon Ferro, also known online as GothFerrari and Marlo, was arrested in May 2025 and pleaded guilty in October. He was also ordered to pay $2.5 million in restitution and serve three years of supervised release, as reported by Bleeping Computer. The criminal ring targeted individuals believed to hold significant cryptocurrency between late 2023 and early 2025, using social engineering to gain access to digital wallets. When victims used hardware wallets, the conspiracy shifted to residential burglaries, with Ferro serving as the "instrument of last resort." He broke into homes to steal hardware wallets containing substantial amounts of Bitcoin, such as one incident in February 2024 where he stole approximately 100 Bitcoins, then valued at over $5 million. Ferro also laundered funds through cryptocurrency exchanges and opened fraudulent digital payment accounts. Fourteen suspects were charged in connection with the scheme, which involved over 4,100 Bitcoin, with stolen funds financing lavish lifestyles including luxury purchases, international travel, and high-end vehicles. Another individual, Evan Tangeman, was previously sentenced to 70 months for his role in laundering funds from the same heist. Source: Bleeping Computer SC Staff Related Threat Intelligence DDoS attacks surge during Milano Cortina 2026 Winter Games SC Staff May 8, 2026 During the Winter Games period, from February 6 to February 23, 2026, attack volumes were six to 10 times higher than historical levels, peaking at over 2,200 attacks on February 23. Security Operations Fragmented DDoS campaign bypasses defenses with novel ‘low and slow’ approach SC Staff May 8, 2026 The attack, identified by DataDome's Galileo threat research team, utilized a vast infrastructure, distributing traffic across over 1.2 million unique IP addresses and 16,402 distinct Autonomous Systems (ASNs). Security Operations CISA urges critical infrastructure to plan for prolonged service delivery during emergencies SC Staff May 8, 2026 CISA is warning that state-sponsored hackers, specifically Chinese groups known as Salt Typhoon and Volt Typhoon, pose a continuous threat to vital sectors such as electricity, water, and internet services. Related Events Cybercast Better Threat Intelligence Between Public and Private Sectors On-Demand Event Virtual Conference Nationwide Cybersecurity Summit 2025: Safeguarding America’s Digital Future On-Demand Event Virtual Conference Securing the Future of Finance: Strategies to Counter Modern Cyber Threats On-Demand Event Get daily email updates SC Media's daily must-read of the most current and pressing daily news Business Email By clicking the Subscribe button below, you agree to SC Media Terms of Use and Privacy Policy . Subscribe Related Terms Deauthentication Attack Defacement Disruption Distributed Scans Domain Hijacking Dumpster Diving Fault Line Attacks Google Hacking Hybrid Attack Password Cracking You can skip this ad in 5 seconds