Ringleader Pleads Guilty to Federal Racketeering Charges Malone Lam, a 22-year-old Singaporean national and recent Miami resident, pleaded guilty in U.S. District Court in Washington D.C. in
Malone Lam, a 22-year-old Singaporean national and recent Miami resident, pleaded guilty in U.S. District Court in Washington D.C. in connection with his role as ringleader of an international cybercrime conspiracy that used social engineering to steal and launder cryptocurrency valued at more than $245 million.He admitted one count of participating in a Racketeer Influenced and Corrupt Organizations (RICO) conspiracy, according to the Justice Department's official statement.
Prosecutors say Lam, who went by aliases "Anne Hathaway," "$$$" and "King Greavy," led the operation.The criminal enterprise operated from October 2023 through at least May 2025, according to court documents.Eighteen defendants have been charged in connection with the case, with ten already pleading guilty.
Prosecutors indicated that Lam and his group targeted wealthy cryptocurrency holders by impersonating trusted companies and organisations, sending fake security alerts, and convincing victims to surrender their digital keys. The group then drained wallets, sometimes using remote-access tools like AnyDesk and occasional home break-ins.
The largest single theft, in August 2024, took $245,930,239 in Bitcoin from one victim.More than 4,100 Bitcoin were stolen from one Washington resident during that attack. Fraud proceeds were allegedly funnelled into luxury cars, watches, handbags, and lavish Hamptons vacations and private jets.
Lam faces up to 20 years in prison under the RICO statute and may also be deported to Singapore.Judge Colleen Kollar-Kotelly set a status hearing for December 8, 2026, with no sentencing date yet scheduled. U.S. Attorney Jeanine Pirro offered a pointed warning in response to the plea: "If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable."
Sources:U.S. Department of Justice: Singaporean Ringleader of $245 Million Cryptocurrency Racketeering Enterprise Pleads GuiltyThe Record: Scammer behind $245 million crypto heist pleads guilty to RICO chargesThe Block: A 22-year-old crypto ringleader pleads guilty to $245 million racketeering scheme
