Crypto Ringleader Pleads Guilty to Stealing Hundreds of Millions

A 22-year-old Miami resident and Singapore citizen has pleaded guilty to leading a group of over a dozen people in a scheme to steal hundreds of millions of dollars in cryptocurrency. Malone Lam, also known online as 'Anne Hathaway,' '$$$' or 'King Greavy,' was the ringleader of the group that used social engineering tactics to trick victims into revealing sensitive information.

The group, which consisted of at least 16 people from California, Connecticut, New York, Florida, and abroad, stole cryptocurrency from multiple victims ranging in value from hundreds of thousands to millions of dollars. They used the stolen funds to purchase luxury items such as high-end handbags, watches, and private jet rentals.

Lam's co-defendants had various roles within the group, including hacking websites and servers to obtain databases of people who held cryptocurrency, purchasing databases on the dark web, and laundering the stolen currency. One Washington, D.C., resident was duped into downloading a program onto his computer that allowed Lam and others to access the computer and steal over $245 million in cryptocurrency.

Lam faces up to 20 years in prison after pleading guilty to one count of participating in a conspiracy under the Racketeer Influenced and Corrupt Organizations (RICO) Act. His co-defendants Evan Tangeman, Marlon Ferro, and Kunal Mehta previously pleaded guilty and were sentenced to prison time.