Crypto
Singaporean Man Pleads Guilty to $230M Bitcoin Theft Operation
A 22-year-old Singaporean man has pleaded guilty to running one of the largest cryptocurrency theft operations in US history.
Malone Lam and his associates allegedly stole over $230 million in Bitcoin from a Washington, DC victim by posing as Google and Gemini executives in August 2024.
The group's operation relied on social engineering tactics, where they convinced the victim to hand over access to his Google Drive and reveal security codes, allowing them to move his funds.
Lam faces up to 20 years in prison on a RICO conspiracy charge and is set for sentencing on December 8, 2026.