Singapore Citizen Admits to Leading Crypto Theft Enterprise Worth $245M
A 22-year-old Singapore citizen has pleaded guilty to leading a cryptocurrency theft enterprise that prosecutors say stole and laundered more than $245 million. Malone Lam, who used online aliases including “Anne Hathaway,” “$$$” and “King Greavy,” organized an international network that targeted crypto owners through social engineering and home break-ins to obtain information needed to drain their wallets.
The operation, which began in October 2023 and continued until May 2025, included participants in California, Connecticut, New York, Florida, and overseas. Lam selected targets and coordinated roles across the group, using online gaming platforms to form relationships before developing a wider operation built around stealing and laundering digital assets.
The proceeds financed an extravagant lifestyle for the members, who spent as much as $500,000 during single nightclub evenings, gave away luxury handbags at parties, and bought watches worth between $100,000 and more than $500,000. They also rented private jets, owned homes in Los Angeles, the Hamptons, and Miami, hired private security teams, and purchased exotic cars valued at as much as $3.8 million.
Prosecutors arrested Lam in September 2025 at a rented home in Miami, where he had been living. The case against other alleged participants continues, with one victim losing more than 4,100 Bitcoin worth over $230 million when they were stolen on August 18, 2024.