$245 Million Crypto Robbery: 22-Year-Old Malone Lam Came to the Agenda

245 million dollars worth of Bitcoin, million-dollar cars, private jets and hundreds of thousands of dollars spent in nightclubs in a single night... The name of 22-year-old Malone Lam came to the fore after one of the biggest robberies in the cryptocurrency world.

'STOLE AND LAUNCHED 245 MILLION DOLLARS'

According to the BBC, the US Department of Justice announced that Singaporean Lam stole $245 million worth of Bitcoin and laundered this money through the international criminal network she established with her friends. Lam pleaded guilty to charges of organizing one of the largest cryptocurrency thefts in history and engaging in gang activity.

However, the details revealed by the investigation are not limited to the amount of stolen money. Lam and his entourage quickly turned millions of dollars of crypto wealth into financing a flamboyant life.

HALF A MILLION DOLLARS IN ONE NIGHT

It was determined that the gang spent up to 500 thousand dollars in nightclubs in a single night with the funds they stole. The network also purchased a fleet of luxury vehicles worth between $100,000 and $3.8 million.

Lam's show in nightclubs was one of the most striking details of the investigation. It was reported that the defendant threw luxury brand bags worth tens of thousands of dollars into the crowd.

Millions of dollars were also spent on luxury watches, private jet rentals and special security teams.

THEY MEET ON AN ONLINE PLATFORM

According to court documents, the network's operations began in October 2023 and continued until at least May 2025. While the network members met on online gaming platforms, people from California, Connecticut, New York and Florida, as well as people from outside the USA, were also included in the group.

Lam assumed leadership of the network. The defendant was noted to have used the pseudonyms “Anne Hathaway,” “$$$,” and “King Greavy” online.

The gang used social engineering methods when targeting Bitcoin holders. The victims were deceived and their confidential information was obtained and digital wallets were accessed using this information.

In some cases, digital methods gave way to direct physical intervention. It was stated that gang members raided the homes of the victims and obtained information that would enable them to empty the digital wallets.

UP TO 20 YEARS OF PRISON

U.S. District Judge Colleen Kollar-Kotelly has not yet set a trial date for Lam, who has pleaded guilty to the charges. It was stated that Lam would face up to 20 years in prison if convicted of the crimes.