Singaporean Gamer Pleads Guilty in $230M Bitcoin Heist

A former online gamer from Singapore has admitted to being the mastermind behind one of the largest Bitcoin heists in history.

Malone Lam, a 22-year-old Miami resident, pleaded guilty on Tuesday to leading an international crime group that stole over $230 million worth of Bitcoin and other cryptocurrencies between October 2023 and May 2025.

The group hacked databases to obtain users' information and convinced victims to hand over their private keys. In one instance, a co-defendant broke into a home in New Mexico and stole a hardware wallet while Lam monitored the victim's movements by hacking their iCloud account.

Lam and his associates laundered the stolen Bitcoin, using it to fund a lavish lifestyle that included luxury parties, private jet rentals, and designer handbags. The group spent up to $500,000 per night on bottle service parties and gave away tens of thousands of dollars' worth of designer goods.

Lam was arrested in 2024 at his Miami rental home.