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Singapore National Scheduled for Guilty Plea in $240 Million Bitcoin Theft Scheme
Just the facts
Lam was arrested by federal agents in September 2024 alongside co-defendant Jeandiel Serrano following an investigation into an August 2024 social engineering attack. Prosecutors alleged the group posed as Gemini and Google security personnel to deceive a victim into relinquishing access to 4,100 Bitcoin valued at over $240 million. The co-conspirators spent millions on custom luxury vehicles, private jet flights, luxury watches, and nightclubs before law enforcement located them in Miami and Los Angeles. Eighteen individuals were charged as part of the federal investigation, with ten co-defendants having already entered guilty pleas.
Why this is news
Federal prosecutors in Washington, D.C., scheduled a plea agreement hearing for 22-year-old Malone Lam in connection with a major cryptocurrency theft.
Sources
This summary is compiled strictly from the original reporting below.