22-Year-Old Ringleader Behind $245M Crypto Heist Pleads Guilty

A group of young scammers, led by Malone Lam, 22, carried out one of the largest cryptocurrency thefts in US history, stealing over $245 million.

The scam began with a call to a Washington, DC, investor posing as representatives of Google and Gemini. The victim was persuaded to provide access to his Google Drive and disclose security codes, allowing the scammers to steal 4,100 bitcoin.

Lam and his associates used money launderers and multiple cryptocurrency exchanges to move and convert the stolen funds.