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A Singaporean man pleaded guilty on Tuesday to a racketeering conspiracy charge in the US for organising one of the biggest ever cryptocurrency thefts.<\/b><\/p>\n
Malone Lam admitted to teaming up with friends to steal $245m (\u00a3181m) of bitcoin and laundering the proceeds.<\/p>\n
The 22-year-old and his associates used the money to spend up to $500,000 a visit to nightclubs, according to the US Department of Justice (DOJ). It also said they bought a fleet of exotic cars, ranging in value from $100,000 to $3.8m.<\/p>\n
Lam faces a maximum prison sentence of 20 years. US District Judge Colleen Kollar-Kotelly did not immediately schedule a sentencing hearing for him. <\/p>\n
“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable,” said US Attorney Jeanine Pirro said.<\/p>\n
“This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency,” she added.<\/p>\n
According to court documents, the\u202fconspiracy began no later than October 2023 and continued to at least May 2025. <\/p>\n
The co-conspirators – who came from California, Connecticut, New York, Florida, and outside the US – met via online gaming platforms.<\/p>\n
The DOJ said Lam – who also went by the names Anne Hathaway, $$$, King Greavy – was the ringleader of the criminal enterprise, who identified victims and coordinated the roles of the different conspirators.<\/p>\n<\/div>\n
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