Malone Lam, a 22-year-old Singaporean citizen, pleaded guilty to a racketeering conspiracy involving the theft of over $245 million in cryptocurrency. According to court documents, the criminal enterprise operated from October 2023 through at least May 2025, utilizing social engineering tactics and occasionally physical home intrusions to access victims' digital wallets.
The group, which coordinated its activities across California, Connecticut, New York, Florida, and international locations, originated from connections made on online gaming platforms. Lam, who used aliases such as Anne Hathaway and King Greavy, identified targets and managed the roles of other conspirators. One notable incident involved the theft of over 4,100 BTC from a single victim in Washington, D.C., in August 2024.
The stolen funds were used to finance a lavish lifestyle, including private security, chartered jets, and exotic cars costing up to $3.8 million. Investigators noted that the group spent as much as $500,000 on nightclub bills in a single evening and purchased watches exceeding $500,000 each. A separate launderer associated with the broader $263 million ring received a 70-month prison sentence in April.
Judge Colleen Kollar-Kotelly accepted the guilty plea for the RICO conspiracy charge and scheduled a status hearing for December 8. US Attorney Jeanine Ferris Pirro stated that the prosecution aims to dismantle such international networks and hold participants accountable for their actions.
