Mastermind of $240 million Bitcoin theft, Malone Lam, to attend plea hearing this Tuesday

Malone Lam, a 22-year-old Singaporean accused of masterminding a $240 million Bitcoin theft in August 2024, is set to appear at a plea hearing this Tuesday. The group used social engineering to impersonate Google and Gemini staff, tricking victims into revealing credentials to steal over 4,100 BTC. The suspects engaged in lavish spending, including luxury cars and private jets, which led to their discovery by law enforcement. Authorities have tracked stolen assets and IP addresses, leading to the indictment of 18 defendants, with several already sentenced.