Singapore · Gemini · Google · Bitcoin · FBI · Decrypt
Malone Lam Runs into Plea Hearing Over $245 million Bitcoin Theft
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Malone Lam, the 22-year-old Singaporean whom prosecutors identify as an organizer of the crew that took $245 million in Bitcoin from a single investor, is due in federal court in Washington on Tuesday for a plea agreement hearing.
Key facts
- Lam spent $4 million at Los Angeles nightclubs in a month and bought more than 30 cars, titling them to a shell company called Crypto Administration LLC
- Malone Lam, the 22-year-old Singaporean whom prosecutors identify as an organizer of the crew that took $245 million in Bitcoin from a single investor, is due in federal court in Washington
- The indictment charges 18 people as a racketeering group it calls the Social Engineering Enterprise, with roles running from database hackers to callers to money launderers
- A man named in court filings only as Victim-7 was at home in Washington when callers claiming to be from Google and Gemini warned him his accounts were under attack
Summary
Malone Lam, 22, is due in federal court in Washington on Tuesday for a plea agreement hearing. Prosecutors say callers posing as Google and Gemini staff talked a Washington investor out of more than 4,100 BTC. The same indictment describes a racketeering group that also burgled homes to steal hardware wallets. A man named in court filings only as Victim-7 was at home in Washington when callers claiming to be from Google and Gemini warned him his accounts were under attack.