Singaporean National Pleads Guilty to $245M Bitcoin Heist and Laundering Scheme

Malone Lam, a 22-year-old Singaporean national, pleaded guilty in a Washington D.C. federal court on September 8, 2026. The US Department of Justice (DOJ) accuses him of orchestrating a massive $245 million Bitcoin heist and laundering scheme.

The court case marks a significant development in the ongoing crackdown on cryptocurrency-related crimes. According to reports, Lam's involvement in the alleged heist is still under investigation, but his guilty plea may shed more light on the case.

As part of the scheme, prosecutors claim that Lam exploited vulnerabilities in the Huione Group's infrastructure, resulting in a massive financial loss for victims.