South Florida Cryptocurrency Thief Pleads Guilty to $245M RICO Conspiracy

A South Florida man at the center of a $245 million cryptocurrency theft scheme has pleaded guilty to participating in a RICO conspiracy.

Malone Lam, 22, a Singapore citizen and Miami resident, entered his plea in a U.S. District Court in Washington, D.C., on Wednesday.

Lam was the ringleader of an international cybercrime network that targeted cryptocurrency holders through deception, online gaming, and even home break-ins.

The conspiracy began no later than October 2023 and continued through at least May 2025, according to court documents.

Lam allegedly organized the operation, identified victims, and coordinated the roles of other conspirators.