Singaporean accused in $240 million bitcoin theft to plead guilty
Malone Lam, a 22-year-old Singaporean, is scheduled to plead guilty in a U.S. federal court after prosecutors accused him of helping to steal more than 4,100 bitcoin worth over $240 million in an August 18, 2024 social-engineering attack. Prosecutors say Lam and alleged accomplices impersonated Google and Gemini staff, used remote-access software to reach private keys, and laundered proceeds through multiple exchanges. Investigators traced funds after operational errors and recovered roughly $37 million from one suspect's apartment; court records also document an extravagant spending spree tied to the theft. The plea would bring prosecutors closer to resolving a sprawling cross-border probe.
A social-engineering attack stole over 4,100 BTC worth $240 million.
Context
Callers impersonated Google and Gemini on August 18, 2024 and persuaded the investor to share access. Investigators traced transfers and made arrests, and a plea hearing is scheduled next. The case could lead to more guilty pleas and asset…
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