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Singaporean Man Pleads Guilty in $245 Million Bitcoin Theft Case

Others · yonhap_finance · 2026-09-10

A 20-year-old Singaporean man has pleaded guilty in a U.S. court for masterminding a massive $245 million cryptocurrency heist.

What Happened

Case Overview: A 20-year-old Singaporean national named Malone Lam has pleaded guilty in a Washington D.C. federal court to orchestrating a massive cryptocurrency theft. The case involves the theft of approximately $245 million worth of Bitcoin, marking it as one of the largest digital asset heists in U.S. history.

Modus Operandi: Lam and his accomplices impersonated employees from Google Cloud and the Gemini cryptocurrency platform to deceive the victim. By gaining unauthorized access to the victim's personal devices and private keys, they successfully siphoned off 4,100 Bitcoin.

Lavish Lifestyle: Following the theft, Lam engaged in an extravagant lifestyle in Los Angeles and Miami, purchasing over 30 luxury vehicles, including Lamborghinis and Ferraris. His blatant displays of wealth at nightclubs ultimately drew the attention of the FBI, leading to his arrest just one month after the crime.

Legal Consequences: Having admitted to the charges, Lam now faces a potential prison sentence of up to 30 years. Federal prosecutors emphasized their commitment to dismantling cybercrime syndicates and holding individuals accountable for weaponizing technology to steal from others.

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