South Florida Man Pleads Guilty in $245M Cryptocurrency Theft Scheme
A South Florida man has pleaded guilty to participating in a $245 million cryptocurrency theft scheme. Malone Lam, a 22-year-old Singapore citizen and Miami resident, admitted to being part of an international cybercrime network that targeted cryptocurrency holders through deception, online gaming, and in some cases, home break-ins.
The conspiracy began no later than October 2023 and continued through at least May 2025. Lam allegedly organized the operation, identified victims, and coordinated the roles of other conspirators. He used several aliases, including 'Anne Hathaway', '$$$', and 'King Greavy', to carry out the scheme.
The group used stolen cryptocurrency to fund a lavish lifestyle, purchasing luxury watches worth over $500,000, exotic cars valued as high as $3.8 million, private jets, and luxury clothing. They also maintained a team of private security guards and spent up to $500,000 on nightclub services in a single evening.
Lam was arrested at his rental home in Miami on September 18, 2025. U.S. Attorney Jeanine Pirro stated that investigators will continue pursuing those involved in the alleged cryptocurrency theft network: 'This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.'