Crypto Ringleader Pleads Guilty to Stealing $245 Million in Cryptocurrency
A 22-year-old Singaporean citizen and recent Miami resident has pleaded guilty to participating in an international cybercrime conspiracy that stole and laundered over $245 million in cryptocurrency.
The defendant, Malone Lam, led a group of individuals connected through online gaming platforms who relied on social engineering and home break-ins to gather information about their victims' crypto wallets. The stolen funds were then spent on luxury goods and services, including nightclubs, exotic cars, and handbags worth tens of thousands of dollars.
According to the US Attorney Jeanine Ferris Pirro, 'If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable.' Lam used various aliases, including 'Anne Hathaway,' '$$$', and 'King Greavy,' during his operations. The group's activities spanned from at least October 2023 to May 2025.
The stolen funds were also spent on renting homes in Los Angeles, the Hamptons, and Miami, hiring private jets and a private security team, and acquiring exotic cars worth between $100,000 and $3.8 million. Lam was arrested at his rental home in Miami on September 18, 2025.