Who is Malone Lam? Singaporean cybercrime ringleader pleads guilty to shocking crypto heist in US
Malone Lam has pleaded guilty before the US District Judge to one count of participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy.
Malone Lam, a 22-year-old Singaporean national, has pleaded guilty to his role in a racketeering conspiracy that involved stealing and laundering over $245 million in cryptocurrency. According to US prosecutors, Lam used social engineering and home break-ins to execute the heist, which took place from October 2023 to at least May 2025.
The crime spree began when Lam, who was living in the US, allegedly lured a Washington, DC resident into a Bitcoin theft of over 4,100 coins, worth nearly $230 at the time. Lam, who previously attended Unity Secondary School in Singapore, dropped out of school during his teenage years and became involved in cryptocurrency trading and online gaming communities.
He later moved to the US, living in Miami, Los Angeles, and the Hamptons, before his arrest on September 18, 2024. Prosecutors allege that Lam orchestrated the international operation, identified potential victims, and coordinated other conspirators. The group allegedly laundered the stolen funds through various channels, including crypto mixers, exchanges, pass-through wallets, and virtual private networks.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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