Singaporean Cybercriminal Pleads Guilty in $245 Million Cryptocurrency Theft Case

• 22-year-old Malone Lam pleaded guilty to participating in a criminal conspiracy under the RICO Act.
• The group stole and laundered more than $245 million in cryptocurrency.
• The perpetrators used social engineering and, in some cases, broke into victims’ homes.
• The stolen funds were spent on luxury cars, watches, private jets, and entertainment.

22-year-old Singaporean national Malone Lam, who had recently been living in Miami, pleaded guilty in a case involving an international cybercrime conspiracy tied to the theft of more than $245 million in cryptocurrency.

Lam pleaded guilty in Washington’s federal district court to one count of conspiracy under the RICO Act, which targets organized crime.

According to US law enforcement, the group’s activity lasted at least from October 2023 to May 2025.

Scheme Details

Members of the group approached potential victims, including via online gaming platforms, and then used social engineering methods to gain access to the information needed to steal cryptocurrency.

In some cases, the perpetrators also broke into victims’ homes.

According to investigators, Lam, known by the aliases Anne Hathaway, $$$, and King Greavy, coordinated the group’s operations, identified potential victims, and assigned roles among participants in the scheme. The stolen cryptocurrency was spent on luxury items and expensive entertainment.

Among other things, they paid up to $500,000 for a single night at nightclubs, bought watches priced from $100,000 to more than $500,000, expensive clothing and bags, rented homes in Los Angeles, the Hamptons, and Miami, and hired private jets and personal security.

The group also purchased a fleet of exotic cars priced from $100,000 to $3.8 million.

Lam Was Arrested in 2025

Law enforcement arrested Lam on September 18, 2025, at a home he was renting in Miami.

US Attorney Jeanine Ferris Pirro said law enforcement will continue to pursue cybercriminals who use technology to steal funds.

“If you build a cybercriminal empire, we will find you, shut down your operation, and hold you accountable,” Pirro said.

The court scheduled a status hearing in the case for December 8, 2026. The investigation is being conducted by the FBI and the Internal Revenue Service’s Criminal Investigation division (IRS-CI), with the involvement of several regional law enforcement units.

As a reminder, we previously reported that a Florida resident was arrested for distributing malware and stealing crypto assets.

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