Hardware Wallet Thief Gets 78 Months in Prison Over $250M Crypto 'Heist'

In brief

• Marlon Ferro, known as "GothFerrari," received a 78-month federal prison sentence after pleading guilty to racketeering conspiracy charges.
• Ferro broke into victims' homes in Texas and New Mexico to steal hardware wallets when digital theft attempts failed.
• The criminal enterprise stole more than $250 million in cryptocurrency between late 2023 and early 2025, according to prosecutors.

A 20-year-old California man was sentenced to 78 months in federal prison Wednesday for his role in a criminal enterprise that prosecutors say stole more than $250 million in cryptocurrency.

The enterprise operated for over a year between late 2023 and early 2025, using social engineering schemes to manipulate victims into revealing access to their digital assets.

Marlon Ferro, 20, of Santa Ana, California, was sentenced today in U.S. District Court to 78 months in prison in connection with his role in a sprawling social engineering conspiracy that stole well over $250 million in cryptocurrency from victims across the United States.

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— U.S. Attorney DC (@USAO_DC) May 6, 2026

Marlon Ferro, aka “GothFerrari,” served as what prosecutors called the operation’s " instrument of last resort," breaking into homes when digital theft methods failed. "When his co-conspirators couldn’t deceive victims into handing over access to their cryptocurrency or hack their way into digital accounts, they turned to Ferro to break into homes and steal hardware wallets outright," said U.S. Attorney Jeanine Ferris Pirro.

Ferro, from Santa Ana, California, pleaded guilty to conspiracy to participate in a racketeer influenced and corrupt organization, following his arrest on May 13, 2025, where authorities found him in possession of two firearms and a fake identification document. U.S. District Court Judge Colleen Kollar-Kotelly imposed the sentence, which also includes $2.5 million in restitution and three years of supervised release following his prison term.

In February 2024, Ferro traveled to Winnsboro, Texas, where he broke into a victim's home and stole a hardware wallet containing about 100 BTC, then worth more than $5 million. Five months later in New Mexico, he conducted surveillance on another residence before smashing a window with a brick to search for .