Singaporean National Pleads Guilty to $245M Bitcoin Theft

A 22-year-old Singaporean national living in Miami has pleaded guilty to participating in a RICO conspiracy that netted over $245 million in stolen Bitcoin. Malone Lam, who is facing up to 20 years in federal prison, was arrested on September 18, 2025, at a rental home in Miami.

The scheme ran from October 2023 to May 2025 and involved the theft of more than 4,100 BTC. In one incident alone, an individual victim lost 4,100 BTC in August 2024, making it one of the largest single-victim crypto heists ever recorded.

Lam's spending spree included exotic cars priced up to $3.8 million each, private jet charters, and nightclub tabs that reportedly reached $500,000 in a single evening.