by Grace Bellinghausen

Wed, September 9, 2026 at 11:55 AM

Updated Wed, September 9, 2026 at 2:23 PM

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A South Florida man at the center of a $245 million cryptocurrency theft scheme pleaded guilty after prosecutors said the operation fueled a life of luxury. (U.S. Department of Justice)

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• Crypto theft
• RICO conspiracy
• Cybercrime
• South Florida
• Malone Lam
• FBI
• IRS Criminal Investigation
• Miami

WASHINGTON, D.C. (CBS 12) — A South Florida man at the center of a $245 million cryptocurrency theft scheme pleaded guilty after prosecutors said the operation fueled a life of luxury.

Malone Lam, 22, a Singapore citizen and Miami resident, pleaded guilty Wednesday in a U.S. District Court in Washington, D.C., to one count of participating in a RICO conspiracy.

Prosecutors say Lam was the ringleader of an international cybercrime network that targeted cryptocurrency holders through deception, online gaming, and in some cases, home break-ins.

The conspiracy began no later than October 2023 and continued through at least May 2025, according to court documents. Members were based in California, Connecticut, New York, Florida, and abroad.

Lam, who also used the aliases "Anne Hathaway," "$$$" and "King Greavy," allegedly organized the operation, identified victims and coordinated the roles of other conspirators.

See also: Love, Hip Hop, & Mugshots: Reality star busted in $198K Florida real estate scam

Investigators say the group used stolen cryptocurrency to fund a lavish lifestyle, including luxury watches worth more than $500,000, exotic cars valued as high as $3.8 million, private jets, luxury clothing, handbags and rental homes in Los Angeles, the Hamptons and Miami.

The group also allegedly spent as much as $500,000 on nightclub services in a single evening and maintained a team of private security guards.

Lam was arrested Sept. 18, 2025, at his rental home in Miami.

U.S. Attorney Jeanine Pirro said investigators will continue pursuing people involved in the alleged cryptocurrency theft network:

This defendant led an international network that preyed on victims through deception, invaded their privacy, and stole hundreds of millions of dollars in cryptocurrency."

The case is being investigated by the FBI and IRS Criminal Investigation, with support from federal investigators in Miami, Los Angeles and elsewhere.