Historic $240 Million Bitcoin Theft

Singapore Man Pleads Guilty to Orchestrating $240 Million Bitcoin Theft in Washington

Malone Lam, a 22-year-old Singaporean man, has pleaded guilty to federal racketeering conspiracy charges for stealing nearly a quarter-billion dollars in bitcoin from a Washington, D.C., resident. This is one of the largest cryptocurrency thefts in U.S. history. Lam, who came to the U.C. from Singapore, was an organizer for a network of young men who carried out a string of crypto scams starting in 2023. He is one among 18 defendants charged in the case and is the 11th to plead guilty. Lam allegedly used the stolen crypto to buy sports cars, rent mansions in Miami, and spend millions at night clubs. His purchases included a $2 million watch and over 30 cars.

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