Singaporean Man Pleads Guilty to $245 Million Crypto Theft and Money Laundering

Malone Lam (马龙·拉姆), a 22-year-old Singaporean national, pleaded guilty in a Washington D.C. federal court to conspiracy charges related to a $245 million crypto theft and money laundering scheme. Prosecutors stated that the network used social engineering and physical burglaries to target victims since October 2023, with Lam serving as a primary coordinator.