Singaporean Suspect in $240M Bitcoin Theft Set to Plead Guilty After $569K Nightclub Spend...

Singaporean Suspect in $240M Bitcoin Theft Set to Plead Guilty After $569K Nightclub Spend According to AP, 22-year-old Singaporean Malone Lam is set to appear at a plea agreement hearing Tuesday over his alleged role in a 2024 social-engineering scheme that stole more than $240 million worth of Bitcoin. Prosecutors say Lam and his associates spent the proceeds on luxury cars, private jets and mansions, with Lam spending more than $569,000 in a single night at a Los Angeles nightclub. If he pleads guilty, he would become the 11th defendant to do so among 18 people charged in the case; prosecutors previously estimated a sentencing-guideline range of at least 14 years.

Source: Wu Blockchain