WASHINGTON, D.C. (CBS 12) — A Miami resident from South Florida has admitted guilt in a cryptocurrency theft operation involving $245 million, as authorities claim the scheme financed a lavish lifestyle.
Malone Lam, 22, a citizen of Singapore living in Miami, entered a guilty plea on Wednesday at a U.S. District Court in Washington, D.C., facing charges of being part of a RICO conspiracy.
According to prosecutors, Lam led a global cybercriminal enterprise that exploited cryptocurrency holders through various means, including scams, online gaming, and in some instances, home invasions.
The conspiracy reportedly started no later than October 2023 and persisted until at least May 2025. The group’s members were located in California, Connecticut, New York, Florida, and internationally.
Lam, who was known to use aliases such as “Anne Hathaway,” “$$$,” and “King Greavy,” is accused of orchestrating the scheme, selecting targets, and coordinating the activities of other collaborators.
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Investigators revealed that the group funneled stolen cryptocurrency into extravagant purchases, including luxury watches exceeding $500,000, exotic vehicles worth as much as $3.8 million, private jets, high-end clothing, handbags, and rental properties in places like Los Angeles, the Hamptons, and Miami.
The group is also alleged to have spent up to $500,000 for nightclub services in a single night while employing a team of private security personnel.
Lam was apprehended on September 18, 2025, at a rental property in Miami.
U.S. Attorney Jeanine Pirro stated that investigators will keep targeting individuals involved in the suspected cryptocurrency theft operation:
This defendant operated a global network that deceived victims, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency.”
The case involves the FBI and IRS Criminal Investigation, along with assistance from federal agencies in Miami, Los Angeles, and other regions.
Lam’s sentencing date is pending. A status hearing has been set by Judge Colleen Kollar-Kotelly for December 8, 2026.