Cleveland.
The IRS grew suspicious of Harmon after seeing a photo of him partying inside a bathtub full of dollar bills. Harmon is the brother of Larry Harmon, who was accused of laundering $311 million through crypto in 2021. Larry pleaded guilty in 2021 and surrendered 4,400 BTC.
Harmon discovered that the government did not have the seed phrase to access the Trezor wallet containing the Bitcoin, which was kept in an IRS evidence locker during court hearings. With this information, he accessed the wallet and stole 713 Bitcoin.
Bitcoin theft is becoming more common as the digital asset class gains popularity, and scammers find new vulnerabilities to exploit and steal crypto from users. TechCrunch has reported that scammers are accessing the email credentials of anyone with att.net, sbcglobal.net, bellsouth.net, and other AT&T email addresses to reset the password of a user’s centralized crypto exchange account. Once hackers access the exchange account, they steal the users’ funds.
The repercussions of Bitcoin theft and crypto scams are significant for the metaverse and the crypto sector. These incidents can undermine the trust and confidence of investors and traders, leading to a decline in the value of Bitcoin and other cryptocurrencies. Therefore, it is crucial for the crypto community to adopt more robust security measures and raise awareness of the risks associated with crypto investment and trading.