Singaporean Accused of Leading $263M Bitcoin Heist Prepares for Guilty Plea

A US federal court case is heating up as Malone Lam, a 22-year-old Singaporean, prepares to enter a guilty plea for his role in stealing over $263 million worth of Bitcoin from a Washington D.C. investor in August 2024.

Lam's group used social engineering tactics to gain control of the victim's holdings, including calls that impersonated Google representatives and Gemini exchange employees citing malware threats.

The theft occurred on August 18, 2024, when the group convinced the victim to share Google Drive access and security codes, allowing them to seize his Bitcoin.

At least 10 of the 18 people charged in the case have already pleaded guilty ahead of Lam's hearing, including a codefendant who was sentenced to six years in prison for racketeering conspiracy.