Singaporean Man Pleads Guilty to $245 Million Bitcoin Theft in US
Summary
Singaporean Malone Lam has pleaded guilty in the US to stealing and laundering about $245 million worth of Bitcoin. Prosecutors say he led a criminal network that used deception and home thefts to drain victims’ cryptocurrency wallets and fund a lavish lifestyle in cities including Los Angeles and Miami.
Key Points
- Malone Lam admitted in US federal court to stealing and laundering about $245 million worth of Bitcoin.
- Authorities say he led a criminal network operating from October 2023 to May 2025 and used deception to obtain victims’ wallet details.
- The stolen money was allegedly spent on luxury goods, rental homes, private planes and security guards in Los Angeles, Hampton and Miami.
- Lam faces up to 20 years in prison, while associate Evan Tanggman was previously sentenced to 70 months for money laundering.
