Cryptocrook ringleader, 22, who met crew on Minecraft admits role in $245M heist
Stolen funds bought mansions, private jets, and supercars – now he faces up to 20 years
Malone Lam, a 22-year-old Singaporean national living in Miami, has pleaded guilty to orchestrating a massive $245 million cryptocurrency heist. The operation, which ran from October 2023 to May 2025, saw Lam recruit two early members of the group through Minecraft. Lam was primarily responsible for selecting victims and providing social engineering support, while also obtaining databases of high-net-worth individuals and triggering account access notifications to trick victims into revealing personal information.
The rest of the crew, which comprised at least 12 people, would then carry out social engineering calls, impersonating tech companies to gain access to victims' accounts. In some cases, they even broke into homes to steal cryptocurrency. The group's illicit gains were spent on luxury items, expensive properties, and private jets.
Lam was arrested in Miami on September 18, 2024, and faces up to 20 years in prison. US Attorney Jeanine Ferris Pirro vowed to continue pursuing cybercriminals who exploit technology to steal from innocent people.
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