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FBI Agent Accused of Stealing $1 Million in Crypto from Seized Wallets
- Former FBI agent Patrick Yaroch allegedly exploited internal access to transfer cryptocurrency from wallets tied to national security investigations into accounts he controlled.
- Investigators say he later confessed, citing shame, while searches uncovered cryptocurrency accounts, travel plans and ChatGPT conversations about the money.
- The former supervisory special agent was dismissed by the FBI on 31 July and now faces federal charges relating to transporting and receiving allegedly stolen property.
A former FBI supervisory special agent is facing federal charges after allegedly transferring about US$1 million (AU$1.43 million) in cryptocurrency from digital wallets connected to investigations into an adversarial nation.
Prosecutors allege Patrick Steven Yaroch used access keys he located through FBI systems to move the cryptocurrency into accounts he controlled. The alleged transfers occurred from late 2024 or early 2025 and involved around 10 to 12 transactions worth approximately US$1 million.
The court filing states Yaroch encountered the wallets during investigative work and later became frustrated by what he viewed as the government’s inability to take further action against the cryptocurrency accounts. He allegedly told investigators he had made very poor decisions related to the wallets and later acknowledged he had made a serious mistake.
Related: Bitcoin ‘Plebs’ Rush to Move Funds as Suspected Coldcard Hack Sparks Self-Custody Fears
Confession Leads to Investigation
According to the affidavit, Yaroch approached a Department of Justice employee before his arrest and confessed, saying feelings of shame prompted him to come forward. Investigators later searched his residence and vehicle, where they gained access to cryptocurrency platforms using credentials he provided.
The filing also claims Yaroch turned to ChatGPT for advice about managing the allegedly stolen funds, including how to invest or spend US$1 million and whether to relocate to a European country such as Portugal. Authorities also found he had booked flights to Portugal scheduled for September.
Yaroch, who most recently worked in the FBI’s counterintelligence and espionage division after previously serving in Boston, was fired on 31 July before being arrested. He has been charged with interstate transportation of stolen goods and receipt of stolen goods, securities and money.
Related: Dubai Crypto Exchange Allegedly Processed $4B Linked to Iranian Gambling and Sanctioned Networks
Author
Rachel Lourdesamy
Rachel is a freelance writer based in Sydney with experience within financial services, marketing, and corporate communications in the APAC region. An avid reader and a graduate of the University of Sydney, she covers topics including business, finance and human interest.
