Singaporean National Malone Lam to Plead Guilty in $245M Bitcoin Heist

Malone Lam, a 22-year-old Singaporean national, is set to appear in a Washington D.C. federal court on September 8, 2026, to formalize a plea agreement tied to the $245 million Bitcoin heist.

The alleged scheme involved more than 4,100 Bitcoin, worth over $240 million, stolen from an individual investor on August 18, 2024.

Lam was arrested in Miami on September 18, 2024, following a month-long investigation led by FBI agents. Authorities consider this case the largest documented crypto-asset theft against a single victim in U.S. history.

The core breach occurred when attackers compromised the accounts of an investor identified as 'Victim 7' using social engineering tactics and technical support impersonation.