Crypto Crook 'Shrek' Admits Role in $263 Million Heist

Crypto Crook 'Shrek' Admits Role in $263 Million Cyber Heist

Written by Aaron S.,

Editor-In-Chief

Last Updated: November 19, 2025

Key Takeaways

California man Kunal Mehta, known as “Shrek,” pleaded guilty to aiding a crypto theft ring that stole $263 million across the US;
Mehta admitted to laundering at least $25 million in stolen crypto by converting it into cash and wire transfers for the group;
Operating since October 2023, the group assigned roles like hacking and laundering; Mehta was the eighth person to plead guilty.

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A man from California, who used the nickname "Shrek", has pleaded guilty to helping a group steal large sums of cryptocurrency, according to US officials.

Kunal Mehta confessed to working with others in a plot that involved both digital theft and money laundering.

He was charged under the RICO Act and admitted to moving at least $25 million of illegal funds through cryptocurrency platforms. His role included converting stolen digital coins into traditional money.

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According to prosecutors, Mehta was not only known as "Shrek". He also used names like "Papa" and "The Accountant".

Authorities said he was introduced to the group and provided services to help hide the stolen funds by converting crypto to cash or wires, for a fee.

The group’s operation began around October 2023. Officials noted that members took on various responsibilities, including identifying potential victims, hacking into systems, and even breaking into physical locations. Mehta and six others were identified specifically as money launderers.

The Justice Department stated that the group stole a total of $263 million in cryptocurrency from people across the US.

Mehta is the eighth individual to admit guilt in connection with the case. He was the oldest person charged and one of five members living in California.

Recently, federal prosecutors filed charges against Firas Isa, founder of Crypto Dispensers, for laundering over $10 million through digital wallets. How did the case unfold? Read the full story.