Bitcoin Heist Mastermind Pleads Guilty to $230M Theft

The mastermind behind one of the largest Bitcoin heists in history has pleaded guilty to his role in the international crime group. Malone Lam, a 22-year-old from Singapore living in Miami, admitted to leading the gang that stole 4,100 Bitcoins, worth over $230 million at the time.

The U.S. Department of Justice said the group hacked databases to steal users' information and trick victims into handing over their private keys. Between October 2023 and May 2025, they swiped Bitcoin and other cryptocurrencies totaling $245 million.

Lam's co-conspirators broke into homes, like one residence in New Mexico where a hardware wallet was stolen. Lam monitored the victim's movements by hacking their iCloud account.