Malone Lam, a 22-year-old Singaporean citizen and recent Miami resident, pleaded guilty in Washington, D.C., to participating in an international cybercrime conspiracy that stole and laundered more than $245 million in cryptocurrency. US Attorney Jeanine Ferris Pirro announced the plea after Lam appeared before US District Judge Colleen Kollar-Kotelly.
Lam pleaded guilty to one count of participating in a RICO conspiracy. A status hearing has been scheduled for December 8, 2026.
Operation Timeline and Structure
According to court documents, the criminal enterprise began no later than October 2023 and continued through at least May 2025. The group grew through connections on online gaming platforms and included members based in California, Connecticut, New York, Florida, and other countries.
The conspirators relied on social engineering and, at times, home break-ins to gather information used to drain victims' cryptocurrency wallets. Lam, who operated under the aliases "Anne Hathaway," "$$$," and "King Greavy," allegedly organized the operation, selected targets, and assigned roles among the group members.
Luxury Spending and Arrest
The stolen funds were spent heavily on luxury goods and services. According to court documents, the group:
- Paid as much as $500,000 for a single night of nightclub services
- Purchased handbags worth tens of thousands of dollars to distribute at nightclub parties
- Bought watches valued between $100,000 and $500,000
- Spent tens of thousands on luxury clothing
- Rented homes in Los Angeles, the Hamptons, and Miami
- Hired private jets and a private security team
- Acquired exotic cars worth between $100,000 and $3.8 million
Law enforcement arrested Lam on September 18, 2025, at his rental home in Miami.
