Minecraft Gang's Crypto Kingpin Faces 20 Years for $245 Million Heist
Malone Lam, a 22-year-old Singaporean and Miami resident, has pleaded guilty to racketeering charges for his role in a cybercrime gang that stole hundreds of millions of dollars in cryptocurrency. The group, which formed after meetups in Minecraft online, had 12 members and operated for about two years.
Lam was responsible for targeting high-net-worth crypto holders and supporting social engineering operations. He also leveraged technology to trigger account access alerts on target devices and helped launder the stolen digital booty. The gang's cyberheists ranged from $800,000 to tens of millions of dollars, with one victim losing $245 million.
The members of the gang enjoyed lavish lifestyles due to their swindling successes. They owned a fleet of 31 exotic cars, ranging in value from $100,000 up to $3,800,000, and ran up nightclub service bills of up to $500,000 a night. They also bought luxury watches, clothing, and rented prestigious homes in locations like Los Angeles, the Hamptons, and Miami.
Lam was arrested in September 2024, and his suspected criminal activities have been under deeper investigation since then. Another member of the gang, Marlon Ferro, was handed a 6.5-year sentence back in May for their role in physical burglaries on behalf of the gang.