A 22-year-old Singaporean living the high life in Miami just admitted he helped run one of the biggest cryptocurrency theft operations in U.S. history. Malone Lam pleaded guilty on September 8, 2026, in federal court in Washington, D.C., to a RICO conspiracy charge tied to an international ring that prosecutors say stole and laundered more than $245 million in crypto.
Based on the information provided by the United States Department of Justice, Lam, otherwise known as ‘Anne Hathaway,’ ‘$$$,’ or ‘King Greavy,’ was the ring leader. Moreover, the conspirators’ scheme began in the online game world and continued through at least October 2023 and May 2025. In addition, members of the fraud ring were in California, Connecticut, New York, Florida, and other countries.
Furthermore, prosecutors highlighted that the criminals did not hack the bitcoin protocol itself. The fraudsters used social engineering to convince their targets that they were communicating with trusted corporations and overheard customer care or technical support. Moreover, the perpetrators tricked their victims into disclosing passwords, seed phrases, codes, and more through phone conversations, emails, and home invasions. Finally, the conspirators would gain unauthorized access to the victims’ accounts and empty their wallets.
In the largest known hit, the group took more than 4,100 Bitcoin from a single Washington, D.C., victim in August 2024. Crypto prices fluctuate, so the exact dollar value shifted over time, but the DOJ puts the overall enterprise at more than $245 million.
The stolen funds bankrolled an eye-watering lifestyle. Prosecutors say the group spent up to $500,000 a night at nightclubs, bought luxury watches worth $100,000 to more than $500,000, designer handbags, private-jet travel, rental mansions in Miami, Los Angeles, and the Hamptons, private security, and a fleet of exotic cars valued as high as $3.8 million each.
Lam was arrested on September 18, 2025, at a Miami rental home. On Tuesday he stood before Judge Colleen Kollar-Kotelly and pleaded guilty to one count of participating in a RICO conspiracy. He faces a maximum of 20 years in prison. A status hearing is set for December 8, 2026. Sentencing has not been scheduled.
U.S. Attorney Jeanine Ferris Pirro said:
“If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable. This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.”
Social-media posts about the case track closely with the official record. Lam did plead guilty. He is 22. Prosecutors describe him as the ringleader of a $245-million-plus operation. He faces up to 20 years, not a sentence already imposed. The $245 million figure covers the broader enterprise, not a single transaction. And the crime centered on social engineering and account compromise, not “hacking Bitcoin.”
