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Former FBI agent pleads guilty to stealing about $2.47 million in crypto from 35 investigations
Summary
Former FBI agent Patrick Steven Yaroch, 37, of Ashburn, Virginia, pleaded guilty Thursday to wire fraud and money laundering for stealing about $2.47 million in cryptocurrency using wallet credentials the bureau had collected in its own cases, the U.S. Attorney's Office for the Eastern District of Virginia said, as reported by Bitcoin Magazine and Decrypt.
Prosecutors said Yaroch made roughly 100 fraudulent transfers using credentials tied to 35 FBI investigations, drawing on wallets controlled by investigation subjects, adversarial nation-state actors, and at least one wallet the FBI itself had created for an operation; court papers put the illicit haul at $2,474,380.66.
Both outlets said he swapped stolen coins into other assets, used some proceeds to pay debts, and planned a move abroad after asking ChatGPT where to live in the EU—then giving Portuguese lawyers power of attorney to obtain a tax ID after the chatbot suggested buying a vineyard in Portugal.
Decrypt said Yaroch self-reported in July after initially describing a smaller set of transfers; he faces up to 20 years in prison with sentencing set for March 4, 2027, before U.S. District Judge Patricia Tolliver Giles in Alexandria. The EDVA statement of facts said the theft compromised multiple FBI investigations and sources and methods used in foreign intelligence collection.
Updates
- Update, : Update (Nov. 7): Cointelegraph, citing the EDVA release, reported the same roughly $2.47 million total across about 100 transfers tied to 35 investigations, and noted that Yaroch had earlier admitted to unauthorized transfers involving about $1 million in digital assets, which it reported in August.
- Update, : Update (Nov. 7, afternoon): The Block, citing the signed statement of facts, reported Yaroch took funds from at least 79 wallets, including at least 10 transfers from crime victims' wallets, with individual thefts ranging from 81 cents to more than $580,000. Under the plea deal he must pay at least $2.4 million in restitution and agreed to forfeit 17,990.67 USDC, about 1.38 million SUI seized July 31 (roughly $1.2 million at current prices, per The Block) and the contents of his TD Bank, Charles Schwab, Kraken and BloFin accounts; any money he makes from books, films or interviews about the case goes to the U.S. government.
Key facts
- EDVA / Bitcoin Magazine: Yaroch pleaded guilty to wire fraud and money laundering; illicit proceeds about $2,474,380.66 across roughly 100 transfers tied to 35 FBI investigations.
- Decrypt: sentencing is set for March 4, 2027; he faces up to 20 years in prison.
- Bitcoin Magazine: from February 2025 through July 31, 2026 he served in the FBI Counterintelligence and Espionage Division with access to systems storing crypto credentials gathered in investigations.
- Decrypt: after ChatGPT suggested a vineyard in Portugal, he hired Portuguese lawyers to obtain a tax identification number and arranged September travel.