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.
- Syndicated AP coverage of the $240M bitcoin social engineering theft case.
- Malone Lam's plea agreement hearing is set for Tuesday.
- FBI arrested Lam and 17 others; $37M in stolen crypto recovered from one defendant.
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From the original article
Michael Kunzelman of the AP reports: They pulled off one of the largest cryptocurrency thefts in U. S. history, duping a stranger out of bitcoin worth over $240 million.
By Dissent · databreaches.net
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