Singaporean man pleads guilty to $245 million cryptocurrency theft

A 22-year-old Singaporean man, Malone Lam, has pleaded guilty in a U.S. court to charges related to a massive international cryptocurrency theft. Lam admitted to leading a criminal scheme that siphoned $245 million in Bitcoin from victims by gaining unauthorized access to their personal data and digital wallets. According to the U.S. Department of Justice, the conspiracy involved money laundering operations to process the stolen proceeds.

The illicit activity spanned from October 2023 to at least May 2025. Members of the international syndicate, who used online gaming platforms to connect, were based in various U.S. states including California, Connecticut, New York, and Florida, as well as several international locations. Lam operated under aliases such as "Anne Hathaway" to facilitate the fraud.

Lam faces a maximum sentence of 20 years in federal prison for his role as the ringleader of the operation. U.S. District Judge Colleen Kollar-Kotelly has not yet scheduled a date for the sentencing hearing, and the investigation remains ongoing as authorities continue to process the scope of the criminal network.