How 4,100 stolen Bitcoin bankrolled a life of private jets and supercars

Malone Lam pleaded guilty to leading a crypto theft enterprise that prosecutors say stole and laundered more than $245 million.

The 22-year-old Singapore citizen admitted Tuesday in Washington to participating in a racketeering conspiracy, marking a major turn in a case that began with one of the largest known thefts from an individual Bitcoin holder.

Prosecutors said Lam organized an international network that targeted crypto owners through social engineering and, in some cases, home break-ins to obtain information needed to drain their wallets. The enterprise operated from at least October 2023 through May 2025 and included participants in California, Connecticut, New York, Florida and overseas.

Lam, who used online aliases including “Anne Hathaway,” “$$$” and “King Greavy,” selected targets and coordinated roles across the group, prosecutors said. The network grew from relationships formed on online gaming platforms before developing into a wider operation built around stealing and laundering digital assets.

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