Canadian teen pleads guilty in $13M crypto impersonation scam

A Canadian man has pleaded guilty to laundering proceeds from a crypto fraud scheme that stole more than $13 million through impersonation scams. U.S. prosecutors are seeking a prison sentence of up to 63 months in exchange for his cooperation.

Trenton Richard Johnston, now 20, admitted to conspiracy to commit money laundering, according to U.S. court documents. Authorities accused him and several co-conspirators of posing as employees of Google, Trezor, and other companies to gain access to victims’ cryptocurrency holdings.

Federal prosecutors said the operation began around January 2024 and relied on social engineering tactics rather than technical exploits. In one case cited in court filings, Johnston allegedly convinced a victim that their Google email and Coinbase accounts had been compromised. That led to the theft of about $41,000 worth of Ether.

Weeks later, prosecutors said the group targeted a California resident by pretending to be representatives from Google and hardware wallet provider Trezor. After persuading the victim that someone was attempting to access their wallet, the scammers drained roughly $13 million in Bitcoin from the account.

Court records show a portion of the stolen funds financed an expensive lifestyle in Miami and Los Angeles. Prosecutors alleged that approximately $1.2 million was spent within two months on luxury vehicles, jewelry, private jet travel, accommodation, and other personal expenses.

With assistance from exotic car rental business owner Brandon Tardibone, who has also pleaded guilty to money laundering, Johnston allegedly purchased and rented high-end vehicles including a Lamborghini Aventador SVJ and two BMWs. Prosecutors further stated that stolen funds paid for a private jet, a rental property in North Miami, and travel expenses for guests.

Authorities eventually linked Johnston to the scheme after a traffic stop in March. Investigators pulled him over while he was driving a Rolls-Royce and later seized electronic devices and handwritten notes that prosecutors said connected him to the fraud operation.

As part of the case, Johnston has surrendered approximately 53.16 Bitcoin and 275.23 Ether, valued at about $3.7 million at current market prices.

Prosecutors have recommended a sentence ranging from 51 to 63 months in prison and requested dismissal of separate wire fraud charges under the plea agreement. Tardibone faces a recommended prison term of between 27 and 33 months.

Beyond the criminal case, security firms continue to warn that impersonation scams remain one of the most effective methods used by crypto thieves.

Commenting on the case, Cyvers chief executive and co-founder Deddy Lavid said many of the industry’s largest thefts now stem from human manipulation rather than sophisticated code attacks. He noted that cryptocurrency transactions can be completed quickly and are often difficult to reverse, allowing attackers to profit after gaining a victim’s trust for only a short period.

Recent investigations have pointed to similar patterns across the sector. In a December investigation, blockchain investigator ZachXBT identified a Canadian scammer who allegedly stole more than $2 million by posing as a Coinbase support representative. According to the investigator, the suspect spent proceeds on gambling, luxury purchases, and rare social media usernames while attempting to conceal their identity through changing online accounts.

Separate findings shared by ZachXBT estimated that social engineering scams targeting Coinbase users alone resulted in at least $65 million in losses between December 2024 and January 2025. The investigator also documented another case involving a New York-based scammer accused of stealing more than $4 million from Coinbase customers.

According to Lavid, education alone is unlikely to stop such attacks. In his view, exchanges, wallet providers, custodians, and banks need systems that can identify suspicious activity and laundering patterns before funds leave customer accounts, rather than relying solely on investigations after thefts occur.