For his role in stealing a cryptocurrency holder's $13 million life savings, a 20-year-old Canadian has received a 25-month U.S. prison sentence. He used the stolen funds to buy luxury cars and rent a private jet, among other purchases.
Here's what to know
After 20-year-old Canadian Trenton Richard David Johnston finishes his sentence, he's expected to be deported to his home country. He has remained in U.S. custody since his March arrest and pleaded guilty in a federal court in Miami to conspiracy to commit money laundering, according to CBC News.
Wallet codes obtained from victims allowed the scammers to access their cryptocurrency holdings. U.S. Homeland Security Investigations found that Johnston persuaded victims to disclose those codes by impersonating Google support personnel and representatives of cryptocurrency companies.
Johnston's California-based victim lost his life savings in the March theft: 185 bitcoin, worth roughly $13 million at the time. Court documents reported by CBC News identified Johnston and an unnamed accomplice as responsible. Johnston relied on deception to gain access to the victim's wallet.
More background
Johnston's scheme began in January 2024, when he was 17, according to a court filing by his defense lawyer, Brooke C. Watson. Prosecutors said he moved to the Miami area in 2024 and spent stolen funds on nightlife and entertainment.
His purchases included jewelry, a private jet rental, a Lamborghini Aventador SVJ, and two BMWs, according to court documents cited by CBC News. Prosecutors described his lifestyle as extravagant.
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Authorities arrested Johnston in North Miami while he sat in the back of a Rolls-Royce Cullinan SUV.
Discord screen-sharing let others watch Johnston demonstrate the thefts, a witness told investigators.
Messages cited in the criminal complaint revealed his reaction to the California theft.
"We actually smacked a 185btc target today," Johnston wrote to his accomplice, per CBC News. "Club feels mad good after today."
What's being done?
Johnston surrendered about $3.8 million in bitcoin and ether after his arrest, which didn't cover the California victim's $13 million loss. Watson said the amount was all the stolen cryptocurrency still in his possession, CBC News reported.
Under a plea agreement, federal prosecutors dropped the conspiracy charge involving wire fraud in exchange for Johnston's guilty plea to the money laundering conspiracy count. Federal prosecutors in Florida's Southern District had said a conviction on both charges could carry a 20-year prison sentence.
Prosecutors said Johnston provided "substantial assistance in the investigation and prosecution" of other unnamed people.
He also consented to an immigration order requiring his deportation and still faces a separate Florida drug possession charge arising from his arrest, CBC News reported.
In a court filing, Watson emphasized Johnston's admission of responsibility following his arrest and his surrender of the cryptocurrency: "Mr. Johnston quickly admitted his conduct and is tremendously sorry for what he has done."
Where can I learn more?
Johnston's case shows how scammers can use deception to steal cryptocurrency.
• A Las Vegas man was convicted in a $24 million crypto fraud involving an AI supercomputer pitch.
• In Nevada, a man faces 280 years over an alleged $24 million crypto Ponzi scheme.
• Toronto's self-described Crypto King will defend himself at his trial after a delay was denied.
• North Korean hackers are suspected in a $351 million Bitget heist, the year's biggest crypto theft.
• In Central Texas, the FBI warns of crypto scams targeting dating app users and involving kiosks.
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