Singaporean national Malone Lam pleaded guilty to racketeering conspiracy for stealing and laundering over $245 million in cryptocurrency. He organized an international network that targeted cryptocurrency holders through social engineering and home break-ins. The operation ran from October 2023 through May 2025. The group spent stolen funds on private jets, rental properties, watches, at least 28 exotic cars and nightclub bills reaching $500,000 per evening. The case expanded to a RICO conspiracy involving 12 additional defendants and over $263 million in thefts.
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