Singapore Man, 22, Admits to $245M Bitcoin Heist Ring

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Malone Lam, a 22-year-old citizen of Singapore who had been living in Miami, pleaded guilty in federal court in Washington to leading a cybercrime ring that stole and laundered more than $245 million in cryptocurrency.

Plea in federal court

Lam entered his plea to one count of participating in a RICO conspiracy before U.S. District Judge Colleen Kollar-Kotelly, who set a status hearing for December 8, 2026.

U.S. Attorney Jeanine Ferris Pirro said in a statement:

“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable. This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.”

How the ring operated

Prosecutors say the enterprise started no later than October 2023 and ran through at least May 2025, with members in California, Connecticut, New York, Florida and abroad who first met on online gaming platforms.

The group relied on social engineering and occasional home break-ins to collect the information needed to drain victims’ wallets.

Lam, who went by “Anne Hathaway,” “$$$” and “King Greavy,” picked the targets and assigned roles to the other conspirators.

In the Washington case, the crew posed as Google and Gemini representatives to obtain security codes and moved out roughly 4,100 bitcoin.

Spending the proceeds

The stolen funds paid for nightclub tabs of up to $500,000 in a single evening, watches worth $100,000 to more than $500,000, and designer handbags handed out at parties.

Members also rented homes in Los Angeles, the Hamptons and Miami, hired private security, chartered private jets, and assembled a fleet of exotic cars valued between $100,000 and $3.8 million.

Arrest and sentencing

Agents arrested Lam at his Miami rental home on September 18, 2025.

The FBI’s Washington Field Office and IRS-Criminal Investigation led the case, with Assistant U.S. Attorneys Christopher R. Howland and David Liss prosecuting.

Lam faces a maximum of 20 years in prison, and no sentencing date has been set.

Source: bitbo.io