Man convicted of $55 million crypto theft spends loot on rare card collections
Jonathan Spalletta was found guilty of laundering $55 million from a cryptocurrency hack and used the money to buy high-value Pokémon and Magic: The Gathering cards.
The Justice Department said Spalletta funneled the stolen funds through the Tornado Cash mixer before purchasing collectibles. investigators recovered a trove of rare cards at his Maryland residence, including a Black Lotus card valued at about $500,000 and sealed Magic booster packs worth roughly $1.5 million. Additional Pokémon items, such as a first-edition base set, were also seized, with total card values exceeding $3 million.
Why it matters
The case highlights how illicit crypto proceeds can be hidden in niche collectibles, raising concerns for law-enforcement and regulators.
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