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Threat actor

Malone Lam

1 mentions in 7 days · 4 in 30 days · 4 total · first seen · last

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$245 million in stolen crypto funded racketeering crew’s lavish lifestyle

Malone Lam pleaded guilty in D.C. federal court to a racketeering conspiracy that stole and laundered over $245 million in cryptocurrency via social engineering.

Malone Lam, a 22-year-old Singapore citizen, pleaded guilty in Washington D.C. federal court to running a racketeering conspiracy that stole and laundered more than $245 million in cryptocurrency. The operation ran from at least October 2023 through May 2025, grew out of online gaming platforms, and relied on social engineering to trick victims into surrendering wallet access, sometimes including break-ins to victims' homes. Lam was arrested on September 18, 2025 in Miami; prosecutors said members spent lavishly on nightclubs, private jets, and exotic cars priced from $100,000 to $3.8 million.

Help Net Security · 6d agoPhishing & fraud

Singaporean Ringleader of $245 Million Cryptocurrency Racketeering Enterprise Pleads Guilty in Washington D.C.

Singaporean Malone Lam pleaded guilty in Washington D.C. to leading a social-engineering conspiracy that stole and laundered over $245 million in cryptocurrency.

Malone Lam, a 22-year-old Singaporean citizen residing in Miami, pleaded guilty in U.S. District Court in Washington D.C. for his role as ringleader of an international cybercrime conspiracy. The group used social engineering to steal cryptocurrency valued at more than $245 million and launder the proceeds. U.S. Attorney Jeanine announced the plea, which marks a major milestone in the prosecution of the crypto theft ring.

DataBreaches.net · 7d agoPolicy & legal

Party’s Over for Crypto Scammers Who Went on a Spending Spree After a $240 Million Bitcoin Theft

Malone Lam's plea hearing approaches in the $240 million bitcoin social engineering theft; the case highlights surging crypto fraud and limited enforcement.

Malone Lam, accused of organizing a social engineering attack that stole over $240 million in bitcoin (4,100+ BTC) from a Washington, D.C. resident in August 2024, has a plea agreement hearing set. Callers impersonating Google and Gemini staff tricked the victim into revealing security codes. Lam and 17 co-defendants spent lavishly before FBI arrests; crypto investment fraud complaints to the FBI rose nearly 50% in 2025 while DOJ disbanded its crypto crimes unit.

SecurityWeek · 7d agoPolicy & legal

Party’s over for scammers who went on spending spree after $240M bitcoin theft

AP report on scammers' spending spree after a $240 million bitcoin social engineering theft, as ringleader Malone Lam nears a plea agreement.

DataBreaches.net syndicates AP reporting on the $240 million bitcoin theft from a Washington, D.C. resident via social engineering calls impersonating Google and Gemini. Alleged ringleader Malone Lam, 22, faces a plea hearing; the scam network spent stolen funds on cars, jets, and mansions before FBI arrests. Crypto investment fraud complaints to the FBI rose nearly 50% in 2025.

DataBreaches.net · 7d agoPolicy & legal

Appears with

organization FBI 2product Bitcoin 2vendor Gemini 2vendor Google 2organization Justice Department 2victim Washington D.C. crypto investor 2organization U.S. Attorney's Office 1threat actor The Com 1threat actor Veer Chetal 1organization Gemini 1threat actor Jeandiel Serrano 1vendor U.S. Department of Justice 1
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