Singaporean at centre of US$260m crypto theft ring pleads guilty in US court

Singaporean Malone Lam pleaded guilty in a US federal court to leading a cryptocurrency theft ring that stole over US$260 million from victims nationwide.

Lam admitted organising a social engineering scheme, impersonating company employees to access victims' digital wallets by acquiring passwords and authentication codes.

Facing up to 20 years in prison, Lam and his associates must repay over US$245 million, with a court hearing set for December 8.

WASHINGTON, Sept 9 — Singaporean Malone Lam pleaded guilty in a federal court to a racketeering conspiracy charge for leading a cryptocurrency theft ring that stole more than US$260 million (RM1.05 billion) from victims across the United States.

In yesterday’s hearing, Lam, 22, admitted organising a sophisticated “social engineering” operation that targeted people with large cryptocurrency holdings, according to a CNA report.

He and his co‑conspirators impersonated employees of trusted companies, including Google, to persuade victims to disclose passwords, seed phrases and authentication codes that unlocked their digital wallets.

“I plead guilty, Your Honour,” Lam said after a long sigh, following prosecutors’ account of how he used those stolen credentials to direct the group’s attacks.

Prosecutor Christopher Howland told the court that Lam “played multiple roles” in the scheme, which the Department of Justice considers its first bitcoin‑related case brought under the Racketeer Influenced and Corrupt Organizations (RICO) Act.

Lam faces a maximum sentence of 20 years in prison.

He told the court he is receiving therapy and medication for depression, anxiety and sleep issues.

Lam is the 11th of 18 defendants to plead guilty.

The group’s largest theft occurred in August 2024, when Lam and his associates accessed a victim’s wallet and obtained more than 4,100 bitcoin valued at about US$230 million at the time.

Authorities arrested Lam weeks later after his spending on luxury cars, private jets, security guards and high‑end rental properties drew attention.

Court filings show he bought vehicles worth up to US$3.8 million each and spent hundreds of thousands of dollars on single nights out, including US$569,000 at a Los Angeles nightclub.

Lam and his co‑conspirators attempted to launder stolen cryptocurrency by converting it into payment cards or cash.

His guilty plea followed months of uncertainty over whether he would accept a deal, with some co‑defendants prepared to testify against him if the case went to trial.

Lam is scheduled to return to court on Dec 8 for a status hearing, when a sentencing date is expected to be set.

He and his co‑conspirators have been ordered to repay more than US$245 million to victims.

Singapore extends Singpass passkey to Android users to curb phishing scams

‘Racist ranting’: Singapore police interview five people over online comments on Nepal floods and SIA’s Air India investment

Singaporean diver missing in Palau as search‑and‑rescue efforts continue

Former childcare assistant charged with abusing two-year-old boy at Mentakab centre

Police uncover RM2.4b drug operation in Puncak Alam, seize 13.17 tonnes in biggest haul this year

Perak rejects claim Taiping Hospital has no house officers, says 93 currently undergoing training

新加坡人马龙·林在美国联邦法院认罪，承认领导一个加密货币盗窃团伙，该团伙从全国各地的受害者手中窃取了超过 2.6 亿美元。

林承认组织了一起社会工程诈骗案，冒充公司员工获取密码和验证码，从而访问受害者的数字钱包。

林郑月娥及其同伙面临最高 20 年的监禁，必须偿还超过 2.45 亿美元，法庭听证会定于 12 月 8 日举行。

华盛顿，9 月 9 日——新加坡人马龙·林在联邦法院承认犯有敲诈勒索罪，他领导一个加密货币盗窃团伙，从美国各地的受害者手中窃取了超过 2.6 亿美元（10.5 亿令吉）。

据中央社报道，在昨天的庭审中，22岁的林承认组织了一场复杂的“社会工程”行动，目标是持有大量加密货币的人。

他和他的同谋冒充谷歌等受信任公司的员工，诱骗受害者泄露密码、助记词和验证码，从而解锁他们的数字钱包。

“我认罪，法官大人，”林郑月娥长叹一口气说道。此前，检方陈述了他如何利用被盗的凭证指挥该团伙发动袭击。

检察官克里斯托弗·豪兰告诉法庭，林某在该阴谋中“扮演了多个角色”，司法部认为这是其根据《反勒索及腐败组织法》(RICO)提起的首例与比特币相关的案件。

林郑月娥面临最高20年监禁。

他告诉法庭，他正在接受抑郁症、焦虑症和睡眠问题的治疗和药物治疗。

林某是18名被告中第11名认罪的。

该团伙最大的盗窃案发生在 2024 年 8 月，当时林和他的同伙入侵了一名受害者的钱包，窃取了超过 4100 个比特币，当时价值约 2.3 亿美元。

几周后，林郑月娥因挥霍无度，购买豪车、私人飞机、保安和高档租赁房产而引起关注，随后被当局逮捕。

法庭文件显示，他购买的车辆每辆价值高达 380 万美元，并且每晚花费数十万美元，其中包括在洛杉矶一家夜总会花费 56.9 万美元。

林和他的同谋试图通过将盗窃的加密货币兑换成支付卡或现金来洗钱。

此前数月，外界一直不确定他是否会接受认罪协议，一些共同被告也准备在案件开庭审理时出庭作证指控他。

林某定于12月8日再次出庭参加状态听证会，届时预计将确定宣判日期。

他和他的同谋已被勒令向受害者偿还超过2.45亿美元的赔偿金。

新加坡将Singpass密码保护范围扩展至安卓用户，以遏制网络钓鱼诈骗

“种族主义言论”：新加坡警方就尼泊尔洪灾和新航对印度航空的投资，讯问五名在网上发表相关评论的人士。

一名新加坡潜水员在帕劳失踪，搜救工作仍在进行中。

前托儿所助理被控在文德甲中心虐待两岁男童

警方在Puncak Alam破获一起价值24亿令吉的毒品走私案，缴获13.17吨毒品，为今年最大宗毒品查获案。

霹雳州否认太平医院没有住院医师的说法，称目前有93名住院医师正在接受培训。