Singaporean Convicted of Masterminding $245 Million Crypto Crime Ring
Malone Lam, a 22-year-old Singaporean, has been convicted of masterminding a cryptocurrency theft ring that stole over $245 million from victims between 2023 and 2025. Lam used various aliases, including Anne Hathaway, King Greavy, and $$$, during his online activities. He was arrested in September 2024 after one of the largest cryptocurrency robberies in history.
According to court documents, Lam and his associates met on online gaming platforms, where they developed specific responsibilities for their members. Some were database hackers who targeted cryptocurrency-related databases to identify victims, while others used social engineering tactics to manipulate victims into providing sensitive information.
The gang's money laundering scheme was complex, involving mixers, exchanges, peel chains, pass-through wallets, and virtual private networks (VPNs) to disguise the stolen funds. They also purchased luxury items, including exotic cars and diamond jewelry, using shell companies created by the gang members.