Canadian teenager Richard Johnston has admitted his role in a crypto currency scam that stole more than $13 million from victims in the United States.
Prosecutors said he used social engineering tricks to gain access to crypto accounts and spend the stolen money on a luxury lifestyle.
Authorities charged Richard Johnston in May when he was 19 years old. He recently pleaded guilty to conspiracy to commit money laundering. The plea agreement helped him avoid more serious charges that could have led to a much longer prison sentence.
According to court records, Johnston and his partners pretended to work for well-known companies such as Google, Coin-base, and Trezor. They contacted victims and convinced them that hackers had compromised their accounts.
The scheme started in early 2024. In one case, Johnston allegedly convinced a victim that someone had accessed their email and Coin-base account. The victim then lost about $41,000 worth of Ethereum.
A few weeks later, the group carried out a much larger theft, they contacted a California resident while pretending to be representatives from Google and Trezor.
They warned the victim about suspicious activity and persuaded them to take action. As a result, the victim lost nearly $13 million in Bit-coin.
Johnston spent a large amount of the stolen money shortly after receiving it. He reportedly bought luxury vehicles, including BMW cars and a Lamborghini Aventador SVJ. He also paid for private jet trips and expensive rental properties in Miami and Los Angeles.
Teen Stole $13M In Crypto to Spend on Jets And Lambos
A Canadian teen has pleaded guilty after prosecutors said he helped steal more than $13 million in crypto through social engineering scams.
Authorities say the funds were spent on luxury cars, jewelry and private jet travel.… pic.twitter.com/matwvrfRX6
— BSCN (@BSCNews) June 12, 2026
The case took a turn in March when police stopped Johnston for speeding while he drove a Rolls-Royce. Officers reportedly found suspected amphetamine tablets during the traffic stop. Investigators later connected devices and written notes to the crypto currency scam.
Johnston surrendered around 53 Bit-coin and more than 275 Ether. The recovered crypto currency has an estimated value of about $3.7 million.
Richard recomended with a prison sentence of between 51 and 63 months. They cited Johnston's cooperation during the investigation. The court has not yet announced a final sentence.
The case also highlights a growing problem in the crypto currency industry. Criminals often pretend to be customer support agents from trusted companies. They create fear and urgency to trick people into transferring funds.
Experts warn crypto users to stay cautious when receiving unexpected messages or calls. They also advise users to verify support requests through official channels before sharing personal information or approving transactions.
