{
  "id": 6382178,
  "title": "Malone Lam pleads guilty in $245M crypto theft conspiracy",
  "url": "https://urgent.news/2026/09/09/malone-lam-pleads-guilty-in-245m-crypto-theft-conspiracy",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-09T04:09:51.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/malone-lam-pleads-guilty-245m-crypto-theft-conspiracy"
  },
  "original_language": "en",
  "account": "Singaporean national Malone Lam has pleaded guilty to participating in a racketeering conspiracy that involved stealing and laundering over $245 million in cryptocurrency, according to US prosecutors. The operation targeted cryptocurrency holders through social engineering and home break-ins, with Lam organizing an international network to carry out the scheme. The enterprise operated from October 2023 to at least May 2025, according to court documents. Lam was charged nearly two years after he was initially accused of stealing over 4,100 Bitcoin from a Washington, DC resident. The judge has scheduled a status hearing for December 8, but a sentencing date has not been announced. Lam and Jeandiel Serrano were arrested on September 18, 2024, and their indictment was unsealed the following day. Prosecutors allege that the pair laundered the proceeds through various means, including crypto mixers, exchanges, pass-through wallets, and virtual private networks. The case has since been expanded to include 12 additional defendants and alleged RICO conspiracy involving over $263 million in crypto thefts, with the group allegedly spending stolen funds on luxury items and nightclub expenses.",
  "summary": "US prosecutors said Lam organized an international network that targeted cryptocurrency holders through social engineering and home break-ins.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}