Singaporean Man Malone Lam Pleads Guilty to $245m Bitcoin Theft Conspiracy.


 

Singaporean Man Malone Lam Pleads Guilty to $245m Bitcoin Theft Conspiracy.


By Zamira Ahmad Nasidi


A 22-year-old 

Singaporean man, Malone Lam, has pleaded guilty in the United States to a racketeering conspiracy charge over his involvement in one of the largest cryptocurrency thefts ever recorded.


Lam admitted to conspiring with associates to steal approximately $245 million worth of Bitcoin and launder the proceeds. 


The development was reported by the BBC on Tuesday.


According to the US Department of Justice (DOJ), Lam and his associates used the stolen funds to support an extravagant lifestyle. 


They allegedly spent as much as $500,000 during individual visits to nightclubs and purchased a fleet of exotic cars valued between $100,000 and $3.8 million.


Lam faces a maximum prison sentence of 20 years, although US District Judge Colleen Kollar-Kotelly has not yet scheduled his sentencing hearing.

“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable,” US Attorney Jeanine Pirro said.


She added that Lam led an international network that allegedly targeted victims through deception, invaded their privacy and stole hundreds of millions of dollars in cryptocurrency.

Lam told US investigators that he dropped out of secondary school in Singapore at the age of 14. 


He travelled to the United States in October 2023 and remained in the country after his visa expired in January 2024.


Court documents state that the alleged conspiracy began no later than October 2023 and continued until at least May 2025.


The case highlights the growing scale of cryptocurrency-related crimes and the challenges authorities face in tracking stolen digital assets across international borders.


#MaloneLam #Bitcoin #BitcoinTheft #Cryptocurrency #CryptoCrime #Cybercrime #CryptoNews #BitcoinNews #MoneyLaundering #Racketeering #USJustice #DOJ #Singapore #UnitedStates #CyberSecurity #Blockchain #CrimeNews #BreakingNews #ZamiraAhmadNasidi

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