South Florida crypto kingpin pleads guilty in alleged $245M theft conspiracy - mycbs4.com
Summary
Malone Lam, a 22-year-old Singapore citizen and Miami resident, pleaded guilty Wednesday in a U.S. District Court in Washington, D.C., to one count of participating in a RICO conspiracy. Prosecutors allege Lam was the ringleader of an international cybercrime network that targeted cryptocurrency holders through deception, online gaming, and home break-ins. The conspiracy began no later than October 2023 and continued through at least May 2025, with members based in California, Connecticut, New York, Florida, and abroad. Lam used aliases including "Anne Hathaway," "$$$," and "King Greavy" to organize the operation, identify victims, and coordinate other conspirators. The group allegedly spent stolen cryptocurrency on a lavish lifestyle, including luxury watches worth over $500,000, exotic cars valued as high as $3.8 million, private jets, and rental homes in Los Angeles, the Hamptons, and Miami.
Key points
- Lam was arrested on September 18, 2025, at his rental home in Miami.
- The group allegedly spent as much as $500,000 on nightclub services in a single evening.
- The conspiracy involved a team of private security guards.
- The case is being investigated by the FBI and IRS Criminal Investigation.
Timeline
The conspiracy began.
The conspiracy continued through at least this date.
Lam was arrested at his rental home in Miami.
Lam pleaded guilty in a U.S. District Court in Washington, D.C.
Judge Colleen Kollar-Kotelly set a status hearing.
“This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.”
Background
The scheme targeted cryptocurrency holders through deception, online gaming, and home break-ins.
Why it matters
The case highlights the scale of international cybercrime and the use of stolen digital assets to fund luxury lifestyles.
What's next
Lam's sentencing has not yet been scheduled.