Young Bitcoin Thief Faces Court Over $230M Heist

A young man accused of being the ringleader of a group that allegedly stole over $230 million worth of Bitcoin is set to appear in court.

Malone Lam, 22, and his co-defendants allegedly carried out the heist by posing as representatives from Google and Gemini using social engineering tactics.

The theft occurred on or around August 18, 2024, with Lam and his group reportedly operating between October 2023 and March 2025, racking up total thefts exceeding $263 million across multiple incidents.

The FBI arrested Lam on September 18, 2024, after he allegedly threw his phone into Biscayne Bay to avoid detection.