Singaporean pleads guilty in $245M cryptocurrency theft scheme
Malone Lam, a 22-year-old from Singapore, has pleaded guilty to leading a group that stole over $245 million in cryptocurrency from victims in the US. Lam operated under aliases such as "Anne Hathaway" and recruited others through online gaming platforms. Authorities say the group spent large amounts on luxury goods and nightlife. Lam now faces up to 20 years in prison. Other accused members are being prosecuted.
- Lam pleaded guilty to leading the group
- Group allegedly stole over $245 million
- Victims were targeted across the United States
- Luxury spending drew attention from authorities
- Lam faces up to 20 years in prison
Sources covering this
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