WASHINGTON — A 22-year-old Singaporean man pleaded guilty Tuesday to a racketeering conspiracy charge tied to one of the largest cryptocurrency thefts in U.S. history, admitting to helping steal more than $245 million in bitcoin before spending the proceeds on a fleet of luxury sports cars, private security, and lavish nightclub outings.

Malone Lam, an eighth-grade dropout who moved to the United States from Singapore in 2023, entered his guilty plea before U.S. District Judge Colleen Kollar-Kotelly in Washington. Judge Kollar-Kotelly did not immediately schedule a sentencing hearing, and Lam now faces a maximum prison term of 20 years.

According to federal prosecutors, Lam served as the organizer of a network of young men who carried out a string of cryptocurrency scams beginning as early as October 2023 and continuing through May 2025, with co-conspirators operating across multiple U.S. states, including California, Connecticut, New York and Florida, as well as internationally, primarily connecting through online gaming platforms.

Court documents identify Lam as having used various online aliases, including "Anne Hathaway," "$$$," and "King Greavy," while playing a central role coordinating the group's activities, identifying potential victims and directing the responsibilities of his co-conspirators.

The scheme's most significant confirmed theft occurred on Aug. 18, 2024, when Lam and his associates used what prosecutors described as "social engineering" techniques to defraud a Washington, D.C., resident out of more than 4,100 bitcoin, then valued at over........

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