A Miami resident pleaded guilty Tuesday to his role in a cybercrime conspiracy that stole and laundered more than $245 million in cryptocurrency.
Social Engineering Tactics Employed
Malone Lam, a Singaporean citizen who recently resided in Miami, pleaded guilty in the U.S. District Court in Washington, D.C., according to a Department of Justice press release.
Running from October 2023 until at least May 2025, the cybercrime scheme operated through online gaming platforms and enlisted accomplices from California, Connecticut, New York, Florida and other countries.
The criminal enterprise employed social engineering and occasional home intrusions to pilfer information, which they then used to empty victims’ cryptocurrency wallets.
