Who is Malone Lam? Singaporean Fraudster Pleads Guilty to $245M Bitcoin Theft

Malone Lam, 22, from Singapore, pleaded guilty on Tuesday to a federal racketeering conspiracy charge tied to the theft of more than 4,100 Bitcoin from a Washington, D.C., resident.

Prosecutors valued the theft at roughly $245M when it occurred and described it as one of the largest cryptocurrency thefts involving a single victim in U.S. history. Lam faces a maximum sentence of 20 years. U.S.

District Judge Colleen Kollar-Kotelly did not immediately schedule his sentencing hearing in Washington.

The plea resolves Lam’s criminal responsibility for the charged conspiracy, but it does not answer how much Bitcoin, cash, or property connected to the theft has been traced, seized, or returned to the victim.