$245M Crypto Heist: Miami Man Pleads Guilty to Leading International Scam

A 22-year-old Miami resident has pleaded guilty to ringleading a massive international crypto scheme that stole nearly $245 million in Bitcoin from a Washington, D.C., resident.

The scheme involved a network of young men who used 'social engineering' techniques to dupe the victim into giving them access to their Google Drive and revealing security codes. Two of Lam's co-conspirators posed as representatives of Google and Gemini exchange to manipulate the man into handing over control of his Bitcoin.

The scammer, Malone Lam, laundered the stolen crypto into cash and used it to buy exotic cars, rent mansions in Miami, and spend millions at nightclubs. His spending spree lasted a month before FBI agents arrested him on September 18, 2025.