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.
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