Crypto
$240 Million Bitcoin Heist: Singapore Man Pleads Guilty
A 22-year-old Singaporean man named Malone Lam has pleaded guilty to orchestrating one of the largest cryptocurrency thefts in U.S. history.
Lam and his co-defendants stole nearly a quarter-billion dollars in bitcoin from a Washington, D.C., resident.
The stolen funds were then laundered and used for a wild spending spree by Lam and his accomplices.
The incident has raised concerns about the vulnerability of cryptocurrency transactions to theft and money laundering.