22-year-old pleads guilty to stealing over $240 million in bitcoin heist

Jump to contentAllNewsSportCultureLifestyleMalone Lam, a 22-year-old Singaporean national, pleaded guilty to a federal racketeering conspiracy charge for stealing over $240 million in bitcoin from a Washington, D.C. resident. Lam and his co-conspirators duped the victim by posing as Google and Gemini crypto exchange representatives to gain access to security codes and siphon off 4,100 bitcoin. Following the theft, Lam embarked on a monthlong spending spree, purchasing a $2 million watch and over 30 high-end vehicles before his arrest by FBI agents in Miami. Lam faces a maximum sentence of 20 years in prison, with his sentencing date in Washington, D.C. yet to be scheduled. The case highlights a sharp rise in cybercrime, as FBI complaints of cryptocurrency investment fraud surged by nearly 50 percent in 2025. In fullSingaporean crypto kingpin pleads guilty to orchestrating $240 million bitcoin heistMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in

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