Singaporean man pleads guilty in US to massive crypto heist
Summary
A Singaporean man, Malone Lam, pleaded guilty in the US to leading a group that stole $245 million in bitcoin. The group used the stolen money to buy luxury goods and spent large amounts at nightclubs. Lam faces up to 20 years in prison.Key Facts
- Malone Lam, 22, admitted to running a criminal group stealing cryptocurrency.
- The theft involved $245 million in bitcoin.
- The group laundered the stolen money, meaning they tried to hide its illegal origin.
- Money was spent on expensive cars, watches, clothes, handbags, private jets, and parties.
- The group included people from various US states and outside the US who met online through gaming platforms.
- They tricked victims into giving private information and sometimes broke into homes to get access to cryptocurrency wallets.
- Lam used online nicknames like Anne Hathaway, $$$, and King Greavy.
- US authorities say the conspiracy lasted from late 2023 until at least May 2025.
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