Singaporean Pleads Guilty in $245m Crypto Heist

A Singaporean national, Malone Lam, has pleaded guilty in the US to his role in a massive cryptocurrency heist. The group stole around $245 million in Bitcoin through deception and stolen personal information.

Lam admitted to a racketeering conspiracy charge after authorities revealed that he spent lavishly on luxury items, including cars worth up to $3.8 million, designer clothing, private jet rentals, and high-end watches.

The group also purchased Hermes Birkin handbags valued in the tens of thousands of dollars and threw them into crowds during nightclub parties.