Trenton Richard Johnston, a Canadian now 20 years old, pleaded guilty to conspiracy to commit money laundering after prosecutors said he and others stole more than $13 million in cryptocurren
Trenton Richard Johnston, a Canadian now 20 years old, pleaded guilty to conspiracy to commit money laundering after prosecutors said he and others stole more than $13 million in cryptocurrency using social engineering scams that targeted victims' accounts.
The operation began around January 2024 and relied on social engineering tactics rather than technical exploits.Johnston and co-conspirators impersonated employees of Google, Trezor and other crypto firms by phone and email to convince victims their accounts were compromised and to prompt account owners to move funds.
In one case cited in court filings, Johnston allegedly convinced a victim that their Google email and Coinbase accounts had been compromised, leading to the theft of about $41,000 worth of Ether.Less than a month later, Johnston and his co-conspirators posed as Google and Trezor representatives to trick another victim in California into believing that someone was attempting to access their cryptocurrency wallet, allowing them to drain the account of about $13 million in Bitcoin ($BTC).
The operation eventually unraveled in March when Johnston was stopped for speeding while driving a Rolls-Royce. During the traffic stop, authorities discovered suspected amphetamine tablets, which led investigators to examine his electronic devices and personal notes. The evidence allegedly connected him to the thefts.
About $1.2 million of the stolen crypto was used to fund a lavish lifestyle across Miami and Los Angeles in just two months, according to prosecutors.With the help of exotic car-rental company owner Brandon Tardibone, who also pleaded guilty to money laundering, Johnston spent most of the money on buying and renting luxury cars, including two BMWs and a Lamborghini Aventador SVJ.Authorities also said the funds paid for a private jet, a rental property in North Miami, airline tickets, jewelry, and other expenses.
Johnston, who was 19 when charged in May, pleaded guilty to a single count in a plea deal that dismissed federal wire fraud charges. Prosecutors recommended a prison term of 51 to 63 months.He agreed to be deported back to Canada, according to a plea deal reviewed by CBC News.Following his arrest, Johnston handed over approximately 53.16 Bitcoin and 275.23 Ether to authorities, cryptocurrencies worth a combined $3.7 million at current prices.
The case highlights a growing threat across the crypto industry. Deddy Lavid, chief executive and co-founder of crypto security firm Cyvers, said many of the sector's largest thefts now come from human manipulation rather than code-based attacks, noting that crypto transactions are irreversible, which gives attackers an advantage as soon as they win a victim's trust.According to findings from blockchain investigator ZachXBT, social engineering scams targeting Coinbase users alone led to at least $65 million in losses between December 2024 and January 2025.
Sources:CBC News: Canadian who stole $13M US in crypto bought Lamborghini, BMWs, plea deal saysCrypto.news: Canadian teen pleads guilty in $13M crypto impersonation scam caseCoinpaper: Teen Pleads Guilty After Stealing $13M in Bitcoin Scam
