$245M Crypto Theft Ring Dismantled After Leader Pleads Guilty

A 22-year-old Singaporean citizen has pleaded guilty to leading an international cybercrime conspiracy that drained over $245 million in cryptocurrency.

The ring, which was active from October 2023 through at least May 2025, used social engineering and occasionally broke into homes to obtain the information needed to drain victims' wallets.

Prosecutors say the group's leader, Malone Lam, organized the operation, identified targets, and coordinated the roles of other conspirators. He used various aliases during the scheme, including 'Anne Hathaway,' '$$$,' and 'King Greavy.'

The group made headlines in August 2024 when they stole over 4,100 BTC from a single Washington D.C. victim.