Washington, USA, September 9, 2026 — A Singaporean man has pleaded guilty in the United States to a racketeering conspiracy charge for his role in organising a cryptocurrency theft scheme involving about $245 million in Bitcoin.
Malone Lam, 22, admitted on Tuesday that he conspired with others to steal cryptocurrency and launder the proceeds, according to the US Department of Justice.
Lam faces a maximum sentence of 20 years in prison. US District Judge Colleen Kollar-Kotelly did not immediately set a date for his sentencing.
US authorities described Lam as the leader of an international criminal network that targeted victims through deception and other means to obtain access to their cryptocurrency wallets.
According to court documents, the conspiracy began no later than October 2023 and continued until at least May 2025. The group included individuals from several US states as well as people outside the country who had connected through online gaming platforms.
The Department of Justice said Lam identified potential victims and coordinated the roles of other members of the group. The conspirators allegedly used deceptive methods to obtain confidential information and, in some cases, carried out home break-ins to gain access to information needed to drain victims' cryptocurrency wallets.
Police arrested a 23-year-old man in Siraha for allegedly creating a fake TikTok account and circulating local residents’ photographs and videos with obscene songs.
30-OCT-2026 11:20 AM
Police in Bhaktapur arrested four people accused of posing as Khalti employees and using screen sharing and OTP codes to gain unauthorised access to bank accounts.
27-OCT-2026 01:40 PM
A fast-moving wildfire damaged or destroyed at least six homes in Southern California on October 16, prompting evacuations as strong winds and hot, dry weather intensified regional fires.
17-OCT-2026 10:04 AM
A 16-year-old killed three children and a teacher at Silver Rail Elementary in Bend, Oregon, before a community member shot him dead, police said.
16-OCT-2026 10:14 AM
Taiwan received its first two US-made F-16V fighter jets under an $8 billion deal for 66 aircraft as it strengthens air defence amid tensions with China and awaits another arms package.
02-OCT-2026 06:25 PM
Nepal recorded 88,248 foreign tourist arrivals in September 2026, up 12.1 percent year-on-year, with South Asia and China contributing significantly despite declines from Europe and Oceania.
01-OCT-2026 05:19 PM
Lam and his associates then laundered the stolen proceeds and spent large sums on luxury goods, travel and entertainment, prosecutors said.
According to the Department of Justice, members of the group spent as much as $500,000 during individual visits to nightclubs and purchased more than 30 luxury and exotic vehicles. The vehicles reportedly ranged in value from about $100,000 to $3.8 million.
The stolen funds were also allegedly used to purchase high-end watches worth up to $500,000, expensive clothing, luxury rental properties in Los Angeles, the Hamptons and Miami, private jet travel and private security services.
Prosecutors said the proceeds were also used to purchase Hermès Birkin handbags worth tens of thousands of dollars, some of which were thrown into crowds during nightclub parties.
Lam, who also allegedly used the aliases Anne Hathaway, $$$ and King Greavy, became known in nightclub circles in Los Angeles and Miami for his extravagant lifestyle.
Authorities said Lam had dropped out of secondary school in Singapore when he was 14 and travelled to the United States in October 2023. He remained in the country after his visa expired in January 2024, according to investigators.
FBI agents arrested Lam and a co-conspirator in September 2024, leading to the eventual dismantling of the criminal network.
US Attorney Jeanine Pirro said the case demonstrated the government's determination to pursue major cybercrime networks.
“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable,” Pirro said.
She said Lam had led an international network that preyed on victims through deception, invaded their privacy and stole hundreds of millions of dollars in cryptocurrency.
One of Lam's co-conspirators, Evan Tangeman, was sentenced in April to 70 months in prison for laundering proceeds from the scheme. The Department of Justice said Tangeman also attempted to destroy evidence after Lam's arrest.