Singaporean Man Pleads Guilty to $245 Million Cryptocurrency Theft Ring

A 22-year-old Singaporean man has pleaded guilty to his role in an international cryptocurrency racketeering operation that stole and laundered more than $245 million in digital assets.

Malone Lam, a former Miami resident, used online aliases including 'Anne Hathaway', '$$$' and 'King Greavy' as he led the enterprise from at least October 2023 through May 2025.

Lam, along with other defendants, allegedly used social engineering to target cryptocurrency holders, exploiting their trust and personal information rather than directly defeating blockchain technology.

The group's activities included a major theft of over 4,100 Bitcoin on August 18, 2024, valued at more than $230 million at the time.