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.






