22‑year‑old steals 245 million dollars worth of Bitcoin! He splurged the stolen wealth on luxury.
In the United States, 22‑year‑old Singapore‑born Malone Lam admitted in court that he orchestrated the theft of 245 million dollars worth of Bitcoin from a single investor. It emerged that Lam, who spent hundreds of thousands of dollars on nightclubs with the stolen millions, paid millions of dollars for luxury cars, watches, and private jets.
In a case seen in the U.S., 22‑year‑old Malone Lam, born in Singapore, allegedly organized a Bitcoin theft worth approximatelyorganized a Bitcoin theft worth $245 millionadmitted. Following the seizure of digital assets, it emerged that millions of dollars had been spent on luxury.
The case, regarded as one of the biggest thefts in the crypto world, involved Lam, who was accused of forming a criminal network and laundering illicit funds. In court, the young man who accepted the charges against him,with a potential prison sentence of up to 20 yearsface‑to‑face.
A major blow in the crypto world
According to the investigation files, Lam succeeded in accessing the digital assets of the targeted investor by working with people he met online.
It was noted that the criminal activities that began in October 2023 continued until at least May 2025. The network was recorded as comprising members from various states and from outside the United States.
They targeted their victims using social engineering.
According to officials, the criminal network leveraged advanced social engineering techniques to seize the victims' sensitive information.
In some instances, it was reported that physical raids were conducted to obtain information that could grant access to digital wallets.
Lam in the digital world“Anne Hathaway”, “$$$” and “King Greavy”It was noted that they used such nicknames and assumed leadership of the group.
They spent millions of dollars on luxury.
After the stolen Bitcoins, it emerged that the network members turned to a conspicuous lifestyle.
In court documents, on some nights at nightclubsup to $500,000It was indicated that luxury cars worth tens of thousands to millions of dollars were purchased, where spending occurred.
It was also indicated that Lam and other suspects spent millions of dollars on luxury watches, private jet rentals, and security services.
He handed out Birkin bags at nightclubs
Lam's luxury expenditures were not limited to this, which was also reflected in the file. The young suspect's crowds in nightclubsthousands of dollars worth of Hermes Birkin bagsIt was alleged that he was shot.
These expenditures exposed how quickly the wealth obtained from cryptocurrency theft was being spent.
Demand for up to 20 years in prison.
No definitive sentencing date has yet been set for Lam, who admitted his crime in court.
The 22‑year‑old Lam, facing charges of organized crime activity and money laundering under a federal case in the United States, if convictedUp to 20 years in prison.may be taken.
The court's decision on determining the final penalty of the lawsuit is awaited.
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