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Singapore Man Pleads Guilty to $240M 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 U.S. history, stealing nearly $240 million in Bitcoin from a Washington D.C. resident.

Malone Lam, an eighth-grade dropout who immigrated to the U.S., faces up to 20 years in prison after pleading guilty to a federal racketeering conspiracy charge.

After stealing the funds, Lam and his accomplices allegedly spent lavishly on luxury items, taking advantage of their illicit earnings.

Lam's sentencing hearing has not yet been scheduled by U.S. District Judge Colleen Kollar-Kotelly.

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