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Singapore Man Pleads Guilty to $240 Million Bitcoin Heist

Guavy AI Editorial Team
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A 22-year-old man from Singapore has pleaded guilty to orchestrating one of the largest cryptocurrency thefts in US history. Malone Lam, an eighth-grade dropout who came to the US from Singapore, teamed up with friends to steal nearly $240 million worth of Bitcoin from a Washington D.C. resident.

Lam and his accomplices laundered the stolen funds and went on a wild spending spree. The exact details of their spending are not specified in the source material provided.

Lam faces up to 20 years in prison after pleading guilty to a federal racketeering conspiracy charge. His sentencing hearing has not yet been scheduled.

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