On May 16, federal prosecutors in Washington, D.C. charged 13 men with allegedly planning a broad conspiracy to identify victims of holding large amounts of cryptocurrency, steal those assets, and then launder the proceeds. According to an alternative indictment obtained by CNBC on Thursday, the victim's cryptocurrency in the case was stolen, valued at more than $265 million. The 13-member gang includes Americans and foreigners who spent lavishly after stealing crypto assets, including spending $9 million on luxury cars,$4 million on nightclubs and multiple rental properties. One of the defendants, Malone Lam, 20, of Singapore, was previously arrested and charged in connection with the largest of these thefts, which stole approximately US$245 million worth of Bitcoin from a Washington, D.C. man in mid-August. Lam used the money to purchase more than 30 luxury cars, including Ferraris, Lamborghini, Mercedes G station wagon, a Rolls-Royce, a McLaren and a Pagani, the indictment alleges. He was also suspected of purchasing a watch worth $2 million.