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Malone Lam Pleads Guilty in $245M Crypto Theft Case
Prosecutors say the scheme stole more than 4,100 Bitcoin and funded a luxury spending spree that included cars, watches and private jets.
- On Tuesday, Malone Lam, a 22-year-old Singaporean, pleaded guilty to a RICO conspiracy in Washington for leading a scheme that stole more than $245 million in Bitcoin.
- Prosecutors allege the enterprise began on online gaming platforms, where conspirators used social engineering to pose as representatives of Google and Gemini, gaining access to victims' cryptocurrency wallets.
- The group funded a lavish lifestyle purchasing more than 30 vehicles, private jets, and a $2 million watch, while running up nightclub bills of up to $500,000 per night in Los Angeles.
- As the 11th of 18 defendants to plead guilty, Lam faces a maximum sentence of 20 years in prison, while the Court continues proceedings against the remaining seven defendants.
- With a status hearing scheduled for December 8, 2026, Attorney Jeanine Pirro stated, "If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable.
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One of the most spectacular cryptocurrency thefts in the United States came to court. Malone Lam, a 22-year-old who dropped out of school in eighth grade, pleaded guilty in a federal file on the theft of cryptocurrency worth nearly $245 million.
A 22-year-old Singaporean man has pleaded guilty to one of the largest Bitcoin heists in U.S. history after he and his accomplices allegedly stole about $245 million worth of cryptocurrency from a Washington resident! Malone Lam, who dropped out of school in the eighth grade and later moved to the U.S., pleaded guilty Tuesday to conspiracy to commit organized crime. He faces up to 20 years in prison.
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Total News Sources53
Leaning Left3Leaning Right6Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 17%
C 50%
R 33%
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