Singaporean Pleads Guilty in $245 Million Crypto Heist

A Singaporean national has pleaded guilty to his role in a massive cryptocurrency heist. Malone Lam, 22 years old, was arrested at his luxury rental mansion in Miami after an investigation into an extravagant spending spree on private jets, nightclubs, and over thirty sports cars.

The theft involved around $245 million in cryptocurrencies. Lam now faces a maximum prison sentence of 20 years, with a federal status hearing scheduled for December 8th.