Singaporean man pleads guilty in US to massive crypto heist
Malone Lam and his associates used the proceeds of their crimes to fund a luxurious lifestyle, US authorities said.
On Tuesday, a Singaporean man pleaded guilty in the United States to organizing one of the largest cryptocurrency thefts ever recorded. Malone Lam admitted to conspiring with friends to steal $245 million worth of bitcoin and laundering the proceeds. According to the US Department of Justice (DOJ), the 22-year-old and his associates spent up to $500,000 on nightlife activities each time and acquired a fleet of exotic cars valued between $100,000 and $3.8 million.
Lam faces a maximum sentence of 20 years in prison, with U.S. District Judge Colleen Kollar-Kotelly yet to set a sentencing hearing.
US Attorney Jeanine Pirro emphasized that the defendant led an international network that deceived victims, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency. Prosecutors reported that the conspiracy began in October 2023 and continued until at least May 2025. The co-conspirators, from various states in the US and outside the country, met through online gaming platforms.
Lam, also known as Anne Hathaway and $$$, was identified as the ringleader who identified victims and coordinated the roles of the others.
The DOJ explained that the co-conspirators tricked individuals into disclosing confidential information and occasionally broke into their homes to obtain details needed to drain their victims' cryptocurrency wallets. The stolen cryptocurrency was used to purchase expensive items such as Hermes Birkin handbags, luxury watches, high-end clothing, rental properties in various locations, private jet rentals, and a team of private security guards.
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