09/08/2026
Malone Lam, 22, a citizen of Singapore and recent resident of Miami, pleaded guilty today in connection with his role as ringleader of an international cybercrime conspiracy that used social engineering to steal and launder cryptocurrency valued at more than $245 million, announced U.S. Attorney Pirro.
Members and associates of the conspiracy used the stolen cryptocurrency to purchase, among other things, nightclub services ranging up to $500,000 per evening, luxury handbags valued in the tens of thousands of dollars which were given away at nightclub parties, luxury watches valued between $100,000 up to over $500,000, luxury clothing valued in the tens of thousands of dollars, rental homes in Los Angeles, the Hamptons, and Miami, private jet rentals for travel, a team of private security guards, and a fleet of exotic cars, ranging in value from $100,000 to $3,800,000.