A man in the US known as "Shrek" pleaded guilty to participating in a $263 million Crypto Assets theft case.

According to Deep潮 TechFlow news on November 19, Decrypt reported that the U.S. Department of Justice announced on Tuesday that 45-year-old California resident Kunal Mehta (nicknamed “Shrek”) admitted to participating in a theft case involving $263 million in Crypto Assets. Mehta admitted to violating the Racketeer Influenced and Corrupt Organizations Act (RICO) and assisting in Money Laundering of at least $25 million.

According to the Department of Justice, Mehta is the eighth guilty member of a network of 13 people involved in cybercrime, which has been operating since October 2023, stealing Crypto Assets from victims across the United States through social engineering and hacking.

The prosecution stated that Mehta served as the “money launderer” in the gang, providing money laundering services from Crypto Assets to cash, and had previously delivered a suitcase containing approximately $500,000 in cash to an accomplice. The stolen funds were used to purchase nightclub expenses, luxury cars, watches, jewelry, designer handbags, and rental properties in Los Angeles and Miami.

The seized assets in the case include 28 luxury cars, among which are 7 Lamborghinis, 3 Ferraris, 1 Rolls Royce, and 1 McLaren.