Scammer behind $245 million crypto heist pleads guilty to RICO charges
Malone Lam, leader of a social engineering ring that stole over $245 million in cryptocurrency, pleaded guilty to US RICO charges.
Singaporean national Malone Lam, 22, pleaded guilty to RICO conspiracy charges for leading the 'Social Engineering Enterprise,' which stole more than $245 million in cryptocurrency. The group posed as Apple and Google customer support, tricked victims into installing remote desktop software, and even burgled homes to steal hardware wallets, including $263 million from a single Washington, D.C. victim. At least nine others have already pleaded guilty; Lam faces a December 8 sentencing hearing and a possible 7-to-20-year term.
- Group posed as Apple and Google support to steal crypto credentials
- Victims were tricked into installing remote desktop software
- Residential burglars targeted hardware cryptocurrency wallets
- $263 million was stolen from one Washington, D.C. victim
- At least nine co-conspirators already pleaded guilty
- Threat actors
- Social Engineering Enterprise
- Organizations
- U.S. Department of Justice
- Countries
- United StatesSingapore
From the original article
2 min read at therecord.mediaMalone Lam was indicted on scamming charges in September 2024 after drawing law enforcement scrutiny for parlaying stolen crypto into lavish Hamptons vacations, cars and private jets.
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