Singaporean Cybercrime Ringleader Pleads Guilty to $245 Million Theft

Malone Lam, a 22-year-old Singaporean, has admitted to orchestrating a vast international cybercrime operation that resulted in the theft and laundering of more than $245 million in cryptocurrency. The U.S. Department of Justice reported that Lam pleaded guilty to participating in a RICO conspiracy before Judge Colleen Kollar-Kotelly.

The criminal enterprise, which operated from October 2023 to May 2025, involved conspirators located across various U.S. states and internationally. Lam, who used several aliases including “Anne Hathaway” and “King Greavy,” was responsible for organizing the operation, selecting targets, and coordinating the actions of his accomplices.

The scheme primarily relied on social engineering tactics, and in some instances, involved breaking into victims' homes to gather information necessary for accessing their cryptocurrency wallets. The stolen funds were used to finance extravagant lifestyles, including nightclub expenditures reaching $500,000 per night, luxury watches, rental properties in affluent areas, private jets, and exotic cars valued at up to $3.8 million.

U.S. Attorney Jeanine Ferris Pirro emphasized the commitment to dismantling cybercrime operations, stating, “If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable.” Authorities arrested Lam on September 18, 2025, at his Miami rental home, with a status hearing scheduled for December 8, 2026.