According to BlockBeats reports on November 30, Esteban Cabrera Da Corte, the ringleader of a fraudulent network based in Miami, Florida, has received a 63-month prison sentence from federal judge Katherine Polk Failla. The sentence was announced by Damian Williams, federal prosecutor for the Southern District of New York.

Cabrera Da Corte was accused of orchestrating a fraudulent scheme that deceived U.S. banking entities and cryptocurrency trading platforms out of millions of dollars. The scheme involved the use of falsified and stolen identity information to acquire more than $4 million in cryptocurrencies on a major crypto asset exchange since 2020, and then falsely claiming that such transactions were unauthorized. The trading platform reversed the trades and restored the funds to bank accounts controlled by the convicted individuals.

In addition to serving time in prison, Cabrera Da Corte has been ordered to pay $3.57 million in restitution and a fine of $1.2 million. These events highlight the commitment of law enforcement agencies to maintain trust and security in the field of cryptocurrencies.