Singaporean National Pleads Guilty to Leading $245M Crypto Theft Ring

Malone Lam, a 22-year-old Singaporean national, has pleaded guilty to participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy that involved stealing over $245 million worth of cryptocurrency. The crimes took place from October 2023 to at least May 2025.

Lam, who used online names such as 'Anne Hathaway,' '$$$,' and 'King Greavy' while organizing the operation, admitted to using social engineering tactics and occasional residential break-ins worldwide to target wealthy cryptocurrency holders. His team included database hackers, researchers, impersonators, money launderers, and burglars.

Prosecutors said Lam's group used compromised websites, servers, and databases to obtain information, which they then used to contact victims and persuade them to disclose sensitive details about their accounts. In some cases, the conspirators would target physical homes containing hardware wallets, using remote access methods whenever possible.