22‑year‑old crypto ringleader pleads guilty to $245 million racketeering scheme
Event Summary
Malone Lam, a 22‑year‑old Singapore citizen living in Miami, pleaded guilty to a federal racketeering charge for running an international cryptocurrency theft scheme that stole more than $245 million.
Key facts
- Lam used the aliases “Anne Hathaway,” “$$$,” and “King Greavy.”
- The scheme involved social‑engineering tactics to deceive victims and launder crypto assets.
- Funds were spent on nightly club services (about $500,000 per night), luxury handbags, watches, rental homes in Los Angeles, the Hamptons and Miami, and cars worth $100,000 to $3.8 million.
- Lam faces a maximum sentence of 20 years in prison.
- A status hearing is set for December 8.
Official statement
U.S. Attorney Jeanine Pirro said, “If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable. This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.”
Confirmed details
The guilty plea was announced by the U.S. Attorney’s Office for the District of Columbia. Prosecutors also noted that co‑conspirators, including Jeandiel Serrano and Evan Tangeman, have been charged or sentenced in related cases.
Why it matters
The case shows how social‑engineering can be used to steal large amounts of digital money and how law‑enforcement can target the organizers of such operations.
Next steps
Lam will appear for a status hearing on December 8, after which a sentencing date will be set.
