A 22‑year‑old Singaporean named Malone Lam pleaded guilty on Tuesday to a racketeering conspiracy charge in a U.S. federal court for organising one of the biggest cryptocurrency thefts ever recorded. Lam admitted to teaming up with friends to steal $245 million (about £181 million) worth of bitcoin and laundering the proceeds.
According to the U.S. Department of Justice, the conspirators spent up to $500,000 on nightclub visits, bought a fleet of exotic cars ranging from $100,000 to $3.8 million, and used the stolen crypto to purchase luxury goods such as Hermes Birkin handbags, high‑end watches, and expensive clothing. The proceeds also funded rental homes in Los Angeles, the Hamptons and Miami, private jet rentals, and a private security team.
Lam, who also went by the names Anne Hathaway, $$$, and King Greavy, was described by the DOJ as the ringleader who identified victims and coordinated the roles of the conspirators. The group used online gaming platforms to meet and trick victims into revealing confidential information, occasionally breaking into homes to access cryptocurrency wallets.
The conspiracy began no later than October 2023 and continued at least until May 2025, according to court documents. Lam faces a maximum sentence of 20 years in prison, though a sentencing hearing has not yet been scheduled by U.S. District Judge Colleen Kollar‑Kotelly.
U.S. Attorney Jeanine Pirro warned that “if you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable.” She added that the defendant “led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.”
Law enforcement officials are monitoring the case for potential additional victims and will likely pursue further assets linked to the stolen funds.
