Malone Lam, 22, admitted to organizing a network that used social engineering to drain a victim's crypto wallet, then spent the proceeds on nightclubs and luxury cars

Malone Lam, the alleged mastermind behind a $230 million Bitcoin theft, is set to appear in court Tuesday as the case moves forward.

Malone Lam, 22, faces 14 years in prison after pleading guilty in a $240M Bitcoin theft case involving Gemini impersonation and RICO charges.