Singapore-Born Man Pleads Guilty to $245 Million Bitcoin Theft

Singapore-Born Man Pleads Guilty to $245 Million Bitcoin Theft

Security Society

Malone Lam, a 22-year-old Singapore-born defendant, pleaded guilty on September 1 in Washington, D. C. , to a federal racketeering conspiracy that stole about $245 million in bitcoin and laundered the proceeds, federal prosecutors said. Prosecutors had earlier indicated that Lam, who led a group that used social-engineering tactics to trick a single investor, was expected to enter a plea agreement.

The scheme involved transferring the stolen cryptocurrency and using the funds to purchase luxury goods, according to U. S. authorities.

Actors

Malone Lam Veer Chetal Jeandiel Serrano Allison Nixon Alicia Valle Federal prosecutors Federal agents

Locations

Washington, D.C., United States Encino, California, United States Miami, Florida, United States Los Angeles International Airport, Los Angeles, California, United States

Fact Check

How these metrics work
Verdict: Partially confirmed Confidence: 60% Claims: 3
At a glance

All three claims were partially confirmed. Malone Lam, 22, entered a plea agreement in federal court related to a scheme involving the theft of over $240 million in Bitcoin from a single investor, though some details remain unverified. On September 10, 2026, a 22-year-old man admitted to a federal racketeering conspiracy tied to the theft and money laundering of more than $240 million in Bitcoin, with partial confirmation of the specifics. The same individual faces up to 20 years in prison for these offenses, with this detail also partially confirmed.

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This section contains an automated verification of claims against external sources and may contain inaccuracies.

Articles

September 10, 2026
1 total
22-Year-Old Pleads Guilty to $245 Million Bitcoin Theft
22-Year-Old Pleads Guilty to $245 Million Bitcoin Theft

CNN • 10 Sep 02:14

A 22-year-old man admitted to a federal racketeering conspiracy for stealing more than $240 million in bitcoin and laundering the proceeds, facing up to 20 years in prison.

Credibility 72% Manip. 10% Center
September 08, 2026
3 total
Singapore-born man pleads guilty to $245 million Bitcoin theft scheme
Singapore-born man pleads guilty to $245 million Bitcoin theft scheme

abcnews.com • 08 Sep 17:14

A 22-year-old Singapore-born defendant admitted to a racketeering conspiracy that stole more than $245 million in Bitcoin from a Washington, D.C., resident and laundered the proceeds, facing up to 20 years in prison.

Credibility 72% Manip. 32% Center
Singapore-born man pleads guilty to $245 million bitcoin theft
Singapore-born man pleads guilty to $245 million bitcoin theft

apnews.com • 08 Sep 16:59

A 22-year-old Singapore-born defendant admitted to a racketeering conspiracy that stole about $245 million in bitcoin from a Washington, D.C., resident and laundered the proceeds, facing up to 20 years in prison.

Credibility 78% Manip. 10% Center
Singapore man to plead guilty in $240 million Bitcoin theft case
Singapore man to plead guilty in $240 million Bitcoin theft case

New York Post • 08 Sep 12:14

Malone Lam, 22, is scheduled to enter a plea agreement in federal court for his role in a scheme that stole more than $240 million in Bitcoin from a single investor and allegedly spent the proceeds on luxury goods.

Credibility 65% Manip. 30% Center
September 07, 2026
1 total
Singapore man to plead guilty in $240 million bitcoin theft case
Singapore man to plead guilty in $240 million bitcoin theft case

AP News • 07 Sep 11:53

A 22-year-old Singaporean who organized a social-engineering scheme that stole more than $240 million in bitcoin is expected to plead guilty in Washington, while authorities continue to prosecute his co-defendants.

Credibility 78% Manip. 32% Center

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