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

WASHINGTON - Malone Lam, 22, a citizen of Singapore and recent resident of Miami, pleaded guilty today in U.S. District Court in Washington D.C. in connection with his role as ringleader of an international cybercrime conspiracy that used social engineering to steal and launder cryptocurrency valued at more than $245 million, announced U.S. Attorney Jeanine Ferris Pirro.

"If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable," said U.S. Attorney Pirro. "This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency. Working with our partners at the FBI and IRS-CI, we will continue to hunt down the criminals who weaponize technology to steal from innocent people."

Lam pleaded guilty before U.S. District Court Judge Colleen Kollar-Kotelly to one count of participating in a RICO conspiracy. Judge Kollar-Kotelly set a status hearing December 8, 2026.

According to court documents, the criminal enterprise began no later than October 2023 and continued through at least May 2025. The scheme developed through connections made on online gaming platforms and was comprised of individuals based in California, Connecticut, New York, Florida, and abroad. The RICO conspiracy used social engineering and occasional home break-ins to obtain information that allowed the conspirators to drain their victims' cryptocurrency wallets.

Lam, aka "Anne Hathaway," "$$$," "King Greavy," organized the social engineering enterprise, identified target victims, and coordinated the roles of the different conspirators.

Members and associates of the conspiracy used the stolen cryptocurrency to purchase, among other things, nightclub services ranging up to $500,000 per evening, luxury handbags valued in the tens of thousands of dollars which were given away at nightclub parties, luxury watches valued between $100,000 up to over $500,000, luxury clothing valued in the tens of thousands of dollars, rental homes in Los Angeles, the Hamptons, and Miami, private jet rentals for travel, a team of private security guards, and a fleet of exotic cars, ranging in value from $100,000 to $3,800,000.