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Malone Lam pleads guilty to $245M cryptocurrency theft conspiracy
Malone Lam, a 22-year-old Singaporean national residing in Miami, has pleaded guilty to participating in a RICO conspiracy involving the theft and laundering of more than $245 million in cryptocurrency. The criminal enterprise, which operated from at least October 2023 through May 2025, targeted high-net-worth individuals using social engineering tactics. Members of the group frequently impersonated representatives from platforms such as Google and the cryptocurrency exchange Gemini to deceive victims into revealing access codes and private keys.
In one notable incident in August 2024, the group stole over 4,100 Bitcoin from a single victim in Washington, D.C., a loss valued at more than $230 million at the time. The group’s methods included deceptive phone calls and, in at least one instance, a physical home break-in to steal a hardware wallet. The network of conspirators, which included members in various U.S. states and abroad, reportedly formed initial connections through online gaming platforms like Minecraft.
The stolen funds were used to finance an extravagant lifestyle, including the purchase of luxury vehicles valued up to $3.8 million, private jet rentals, and high-end watches. Lam, who used online aliases such as “Anne Hathaway” and “King Greavy,” coordinated the group's activities and victim selection. He faces a maximum sentence of 20 years in federal prison. A status hearing is scheduled for December 8, 2026.
Entities
FBI · Gemini · Google · Malone Lam · Minecraft · U.S. Department of Justice · United States Department of Justice
Claims
What the coverage asserts, and how many sources carry each claim.
- [DISPUTED] Malone Lam pleaded guilty to a RICO conspiracy charge in a Washington federal court. livecoins.com.br · www.parismatch.com · www.theregister.com · www.folkets.dk · 2001online.com · +5 more
- [● 4 SOURCES] The group members met and formed relationships through online gaming platforms like Minecraft. www.theregister.com · bitcoinethereumnews.com · townhall.com
- [● 9 SOURCES] Stolen funds were used to purchase luxury items including private jets, exotic cars, and high-end watches. livecoins.com.br · www.theregister.com · www.folkets.dk · bitcoinethereumnews.com · nationalcybersecurity.com · +3 more
- [● 6 SOURCES] Malone Lam faces a maximum sentence of 20 years in prison. www.parismatch.com · www.theregister.com · www.folkets.dk · 2001online.com · cryptobriefing.com · +1 more
- [● 11 SOURCES] One victim in Washington, D.C., lost more than 4,100 Bitcoin, valued at over $230 million at the time of theft. www.parismatch.com · www.folkets.dk · 2001online.com · bitcoinethereumnews.com · livecoins.com.br · +5 more
- [● 11 SOURCES] The group used social engineering by impersonating representatives from Google, Gemini, and other platforms. livecoins.com.br · www.parismatch.com · www.theregister.com · www.folkets.dk · 2001online.com · +5 more
- [DISPUTED] The operation ran from at least October 2023 through May 2025. www.theregister.com · bitcoinethereumnews.com · nationalcybersecurity.com · cryptobriefing.com · townhall.com
- [● 11 SOURCES] The criminal enterprise stole and laundered more than $245 million in cryptocurrency. livecoins.com.br · www.parismatch.com · www.theregister.com · www.folkets.dk · 2001online.com · +5 more