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Singapore man pleads guilty to orchestrating $240 million bitcoin theft from DC resident
Prosecutors say the scheme stole more than 4,100 Bitcoin and funded a luxury spending spree that included cars, watches and private jets.
- On Tuesday, Malone Lam, a 22-year-old Singaporean, pleaded guilty to a RICO conspiracy in Washington for leading a scheme that stole more than $245 million in Bitcoin.
- Prosecutors allege the enterprise began on online gaming platforms, where conspirators used social engineering to pose as representatives of Google and Gemini, gaining access to victims' cryptocurrency wallets.
- The group funded a lavish lifestyle purchasing more than 30 vehicles, private jets, and a $2 million watch, while running up nightclub bills of up to $500,000 per night in Los Angeles.
- As the 11th of 18 defendants to plead guilty, Lam faces a maximum sentence of 20 years in prison, while the Court continues proceedings against the remaining seven defendants.
- With a status hearing scheduled for December 8, 2026, Attorney Jeanine Pirro stated, "If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable.
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An eighth grade dropout admitted to stealing $245 million in Bitcoin and going on a spending spree
A man who dropped out of school in the eighth grade pleaded guilty Tuesday to stealing $245 million in Bitcoin, one of the biggest cryptocurrency thefts in U.S. history. He then spent the stolen fortune on custom Porsches, Lamborghinis, Ferraris, mansion rentals and a $2 million watch.
·Springfield, United States
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22-year-old school dropout steals $245 million in Bitcoin by posing as Google and Gemini executives; pleads guilty as stolen fortune funds Ferraris, mansions and a $569,000 night out
US News: A 22-year-old Singaporean man has pleaded guilty to his role in an international cryptocurrency racketeering operation that prosecutors say stole and .
·India
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Total News Sources109
Leaning Left12Leaning Right10Center16Last UpdatedBias Distribution42% Center
Bias Distribution
- 42% of the sources are Center
42% Center
L 32%
C 42%
R 26%
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