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Malone Lam cryptocurrency theft case

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2026-09-09 19:23 UTC → 2026-09-11 00:44 UTC · added ~~removed~~

Malone Lam, a 22-year-old Singaporean national residing in Miami, has pleaded guilty in a U.S. federal court to leading an international cryptocurrency theft and racketeering conspiracy. Between October 2023 and May 2025, Lam and his cybercrime network stole and laundered more than $245 million in digital assets, primarily Bitcoin, from high-net-worth individuals. The group utilized sophisticated social engineering tactics, frequently impersonating support staff from major entities such as Google, Yahoo, Coinbase, and the Gemini exchange to manipulate victims into surrendering account access. In one significant ~~incident,~~ incident in August 2024, the ring targeted a Washington, D.C. resident, stealing over 4,100 Bitcoin valued at approximately $230 million. The group also employed physical methods, including arranging home break-ins to seize hardware wallets. Operating under various online aliases, including ‘Anne Hathaway’ and ‘King Greavy,’ Lam coordinated the selection of targets and managed the various roles within the enterprise. He The conspirators reportedly formed initial connections through online gaming platforms like Minecraft. Lam used the stolen funds to finance an extravagant lifestyle, including the purchase of luxury sports ~~cars,~~ cars valued up to $3.8 million, high-end watches, ~~and~~ real estate in Miami, the Hamptons, and Los Angeles, ~~as well as~~ and the use of private jets. Lam faces a maximum prison sentence of 20 years. A status hearing is scheduled for December 8, 2026.

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