Singapore man pleads guilty in $240 million bitcoin theft case
Malone Lam, a 22-year-old from Singapore, pleaded guilty to a federal racketeering conspiracy charge tied to the theft of nearly a quarter-billion dollars in bitcoin from a Washington, D.C., resident, and faces up to 20 years in prison [1]. Prosecutors described the August 2024 heist as one of the largest cryptocurrency thefts in U.S. history, in which a stranger was duped out of bitcoin worth more than $240 million [2]. Those involved, described as a network of young men in their late teens and early 20s, used a sophisticated laundering scheme and then spent proceeds on sports cars, private jet flights and security guards [2]. U.S.
Sources
- click2houston.com · Singapore man pleads guilty to orchestrating $240 million bitcoin theft from DC resident Sep 8, 2026
- click2houston.com · Party's over for crypto scammers who went on a spending spree after a $240 million bitcoin theft Sep 7, 2026
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