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The Independent UK
The Independent UK
National
Michael Kunzelman

Singaporean crypto kingpin pleads guilty to orchestrating $240 million bitcoin heist

Malone Lam Bitcoin Singapore DC Washington D.C. FBI

A 22-year-old man pleaded guilty on Tuesday to pulling off one of the largest cryptocurrency thefts in history, duping a stranger out of bitcoin worth over $240 million.

Malone Lam, an eighth-grade dropout who came to the U.S. from Singapore, teamed up with friends to steal nearly a quarter-billion dollars in bitcoin from a Washington, D.C., resident — one of the largest cryptocurrency thefts in U.S. history — and then embarked on a wild spending spree with the laundered proceeds.

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