22-Year-Old Social Engineering Mastermind Pleads Guilty to $245M Crypto Fraud

Malone Lam, a 22-year-old Singaporean national, has pleaded guilty in a Washington D.C. federal court to leading a transnational social engineering fraud syndicate. The group stole over $245 million, with Lam reportedly spending $500,000 in a single night at a nightclub. He now faces up to 20 years in prison.