Former FBI agent pleads guilty over roughly $2.47 million in crypto theft

Former FBI agent Patrick Steven Yaroch pleaded guilty on 5 November to wire fraud and money laundering. US prosecutors say he misused cryptocurrency credentials obtained through investigations to steal approximately $2.47 million.

The Justice Department says the scheme involved about 100 fraudulent transfers using credentials associated with 35 separate FBI investigations. The affected wallets included those controlled by investigative subjects and at least one created by the FBI for an operation. Prosecutors say Yaroch exchanged stolen assets and moved them through further transactions to disguise their origins.

The department says his actions compromised investigations, sources and methods. The case concerns abuse of privileged access to wallet credentials; it is not evidence of a fault in every cryptocurrency network used. That distinction matters when assessing where the security failure occurred.

Sentencing is scheduled for 4 March 2027. The department gives a maximum prison term of 20 years, but that is not an imposed sentence: the judge will decide after considering sentencing guidelines and other factors. The guilty plea is the new development.