Who is Malone Lam? Singaporean cybercrime ringleader pleads guilty to shocking crypto heist in US

A Singaporean national has pleaded guilty to participating in a racketeering conspiracy. US prosecutors said that Malone Lam, 22, used social engineering and home break-ins to steal and launder more than $245 million in cryptocurrency.

The plea establishes criminal responsibility almost two years after Lam was charged over the theft of more than 4,100 Bitcoin, worth over $230 at the time, from a Washington, DC resident.

Who is Malone Lam?

Lam grew up in Singapore and attended Unity Secondary School in Choa Chu Kang in 2017. He dropped out of school during his teenage years and became involved in cryptocurrency trading and online gaming communities, including Minecraft and Discord.

He moved to the US in October 2023, and lived in Miami, Florida, Los Angeles, California, and the Hamptons, New York. He entered the US via the Visa Waiver Program, which had expired by 2024.

What is Malone Lam accused of?

The US Justice Department said on Tuesday, September 8, that Lam organized the international operation, identified prospective victims and coordinated other conspirators. The enterprise, which was formed through connections on online gaming platforms, operated from no later than October 2023 through at least May 2025, according to court documents, per TradingView.