A Canadian teenager has pleaded guilty in the United States after prosecutors said he stole more than $13 million in cryptocurrencies through social engineering scams and funded a “bizarre lifestyle” in Miami and Los Angeles.
Investigators said about $1.2 million was quickly spent on luxury cars, private jets and rentals in Miami and Los Angeles. Vehicles included BMW models and a Lamborghini Aventador SVJ. The money was also used for private jet travel and tickets for “two girls from New York.”
Teenager pleads guilty to $13 million worth of cryptocurrencies
U.S. prosecutors charged Trenton Richard Johnston in May, when he was 19 years old. They said he and his co-conspirators impersonated employees from companies including Google, Coinbase and hardware wallet company Trezor to access victims’ cryptocurrency accounts.
Johnston, now 20, pleaded guilty to conspiracy to commit money laundering. The plea deal avoided charges that could have resulted in a prison sentence of up to 40 years.
Court documents show the scheme began around January 2024. In February, Johnston allegedly tricked a victim into thinking his email and Coinbase accounts had been hacked, allowing about $41,000 in ether to be stolen.
The operation escalated weeks later, when Johnston and others posed as representatives of Google and Trezor, prosecutors said. One victim in California was told that someone had gained access to his wallet, about $13 million Bitcoin He was drained.
Teen stole $13 million in cryptocurrency to spend on planes and Lambos A Canadian teen has pleaded guilty after prosecutors said he helped steal more than $13 million in cryptocurrency through social engineering scams. Authorities say the money was spent on luxury cars, jewelry and private jet travel. pic.twitter.com/matwvrfRX6
-BSCN (@BSCNews) June 12, 2026
Teen hands over $3.7 million in cryptocurrency
The case collapsed in March when Johnston was pulled over for speeding in a Rolls Royce. Police said he was carrying 21 suspected amphetamine tablets. Instrumentation and notes later linked him to the plot.
Court records show he delivered about 53.16 bitcoins and 275.23 ether, worth about $3.7 million. The prosecution recommended a sentence of between 51 and 63 months, citing his cooperation. Judgment is pending.
Fake support leads to Bitcoin theft
Finance Magnates’ reports of similar cases highlight a broader pattern of scams impersonating cryptocurrency support. In one case, One threat actor stole over $2 million from Coinbase users By posing as customer support and convincing victims to allow transfers.
In another, One investor lost about $91 million in Bitcoin After interacting with fake support channels. Both cases show the same mechanism, with attackers exploiting trust in official support, creating urgency, and relying on irreversible cross-chain transfers to move funds quickly.
This article was written by Tariq Sikdar at www.financemagnates.com.
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