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The Economic Times

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22-year-old school dropout steals Rs 23,45,67,77,750 in crypto, buys 30 cars, custom Porsches, Lamborghinis and Ferraris, and a watch worth about Rs 20 crore

Malone Lam Crypto United States Bitcoin Luxury Prison Miami Singapore

A 22-year-old Singaporean man has pleaded guilty to his role in an international cryptocurrency racketeering operation that prosecutors say stole and laundered more than $245 million or Rs 2,343.37 crore in digital assets.

Malone Lam, an eighth-grade dropout who later lived in Miami, pleaded guilty on September 8, 2026, in US District Court in Washington, DC, to one count of participating in a RICO conspiracy. The US Department of Justice has described Lam as the ringleader of an international cybercrime enterprise that allegedly used social engineering to target cryptocurrency holders.

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