Singaporean Confesses to Major Cryptocurrency Heist in the US
A Singaporean national, Malone Lam, recently pleaded guilty in the United States to charges of running a significant cybercrime operation. The 22-year-old was accused of orchestrating the theft of $245 million worth of bitcoin, alongside a group of associates.
The group reportedly used the illicit gains to lead an extravagant lifestyle, which included splurging on nightclub outings with expenses reaching up to half a million dollars per visit. They also invested in luxurious car collections, with individual vehicles costing between $100,000 and $3.8 million, according to information from the US Department of Justice (DOJ).
Facing a potential sentence of up to 20 years, Lam awaits a court ruling, although a sentencing date has not yet been set by US District Judge Colleen Kollar-Kotelly. “If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable,” remarked US Attorney Pirro, reinforcing the government’s stance on cybercrimes.
Lam’s operation started no later than October 2023, extending through at least May 2025. His group of co-conspirators, detected across various US states such as California and New York, as well as internationally, initially connected through virtual gaming networks. Lam, also known by aliases Anne Hathaway, $$$, and King Greavy, identified potential targets and coordinated the distinct roles of his accomplices.
Details reveal that the group’s illegal activities included deceiving victims to access confidential information and physically breaking into homes to access digital wallets, the DOJ noted. Furthermore, extravagant purchases were made using the stolen cryptocurrency — from Hermes Birkin bags tossed at parties to high-end watches and designer clothing costing thousands.
Lam’s associates reportedly lived in lavish rental properties, traveled via private jets, and retained private security, sustaining their luxury-driven lifestyle. Images released by US authorities capture Lam reveling in Miami nightclubs, with cash conspicuously displayed, and flaunting his earnings with luxury cars parked outside expansive homes.
