4,100 Bitcoin theft funded private jets and supercars

Malone Lam, a 22-year-old Singapore citizen, pleaded guilty in Washington federal court to leading a racketeering conspiracy that prosecutors say stole more than 4,100 Bitcoin from a Washington, D.C., resident and laundered proceeds to fund luxury spending.

Federal prosecutors allege the criminal network operated from at least October 2023 through May 2025 and moved at least $245 million in cryptocurrency through theft and money‑laundering schemes. Court filings describe an international enterprise that recruited members from online gaming communities and coordinated thefts across the United States and abroad.

The largest single theft in the case took place on Aug. 18, 2024, when more than 4,100 Bitcoin were taken from a Washington, D.C., wallet. Those coins were worth more than $230 million at the time. The Justice Department’s $245 million figure reflects additional thefts and laundering attributed to the broader operation.

According to filings, conspirators used social engineering to target cryptocurrency holders. In some cases they posed as support representatives for online services, obtained remote access to victims’ computers, and in other instances carried out home break‑ins to acquire credentials and private keys needed to move funds.

Investigators say the group then routed stolen crypto through a chain of exchanges, mixing services, peel chains and pass‑through wallets and used virtual private networks to mask locations. Court documents trace how the enterprise converted digital assets into cars, watches, travel and housing to conceal the proceeds.

Prosecutors allege Lam organized the operation, selected targets and assigned roles. He used online aliases including Anne Hathaway, $$$ and King Greavy, and worked with members based in California, Connecticut, New York, Florida and overseas. Lam was arrested in September 2025 at a rented residence in Miami and entered his guilty plea in September 2026.

U.S. District Judge Colleen Kollar‑Kotelly scheduled a status hearing for Dec. 8, 2026. Sentencing has not been set. The investigation remains active as authorities trace remaining assets and pursue charges against other alleged participants.