Singaporean, 22, Pleads Guilty to Orchestrating $245 Million Bitcoin Heist

Singaporean Malone Lam, age 22, has pleaded guilty in Washington to orchestrating a massive Bitcoin heist. On August 2024, Lam and his accomplices stole over 4,100 Bitcoin worth more than $245 million from one DC resident.

The con was orchestrated through online gaming chatrooms, recruiting young men as accomplices and using fake support pages and harvested security codes to manipulate the victim into surrendering access and security codes. The stolen cryptocurrency funded a month-long spending spree that included $569,000 in one LA club night, 30-plus cars including custom Porsches, Lamborghinis, and Ferraris, a $2 million watch, rented mansions in Miami, the Hamptons, and Los Angeles, private jet travel, a personal security team, and Hermes Birkin bags thrown into party crowds.

Lam faces up to 20 years in prison for his role in one of the largest cryptocurrency thefts in US history. The Justice Department has now secured its 11th guilty plea in this case, which spans from October 2023 to May 2025 and involves an empire of young men operating under aliases including Anne Hathaway, $$$, and King Greavy.