From Minecraft to US$245 million crypto heist: S’porean forfeits 28 cars to US after guilty plea

Malone Lam, a 19-year-old Singaporean, arrived in Texas in October 2023 to join friends he met online through the video game Minecraft. Within a month, the group devised a scheme to steal cryptocurrency by pretending to be employees from renowned companies like Google and cryptocurrency exchanges such as Coinbase. Armed with his proficiency in computer software and technology, Lam obtained breached databases containing cryptocurrency-related data and created a list of high-net-worth individuals.

By triggering "account access attempt" notifications, he duped targets into revealing personal account information, gaining entry to their digital currency wallets and stealing their crypto assets.

On September 9, Lam admitted guilt in the US District Court for the District of Columbia for orchestrating one of the largest cryptocurrency thefts in the United States. A few months prior, the group targeted a victim, R.W., by infiltrating his iCloud storage account through social engineering methods. When Lam failed to breach the wallet online, they sent an associate to break into his New Mexico home, but they were unsuccessful.

On August 18, 2024, Lam's associates impersonating Google representatives called R.W., managed to access his Google account, and eventually stole US$245 million (S$309 million) from him. Now 22, Lam faces a maximum 20-year prison sentence and has had 28 luxury vehicles, including Rolls-Royces, Lamborghinis, Ferraris, and a Pagani, seized. The group also forfeited over 95 pieces of jewelry, luxury watches, clothes, and shoes.