Man Who Went By 'Shrek' Pleads Guilty to Helping Steal $263 Million in Crypto

Kunal Mehta, also known as 'Shrek', has pleaded guilty to conspiracy under the Racketeer Influenced and Corrupt Organizations (RICO) Act, admitting to helping launder at least $25 million in cryptocurrency. The 45-year-old California resident was part of an alleged cybercrime ring that stole $263 million through social engineering and hacking. Prosecutors stated that Mehta, who operated under various pseudonyms including 'Papa' and 'The Accountant', was the oldest of the group, which began its operations in October 2023. His role involved money laundering through crypto exchanges and concealing ownership of extravagant purchases, such as luxury cars, watches, and rental properties in affluent locations. Authorities revealed that the group engaged in various criminal activities, from hacking to burglary, and they flaunted their stolen gains by spending lavishly on luxury goods. Mehta's admission marks a significant step in prosecuting the involved parties, with several individuals facing charges as part of this extensive investigation.

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