Malone Lam pleads guilty to $245 million crypto racketeering scheme

September 9, 2026 at 12:16 AM1 min

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Malone Lam, 22, pleaded guilty Tuesday to leading an international social engineering scheme that stole and laundered more than $245 million in cryptocurrency. The Singapore citizen and Miami resident faces up to 20 years in prison, with a status hearing set for Dec. 8.

Key Facts

Malone Lam, 22, pleaded guilty to one count of federal racketeering conspiracy in the U.S. District Court for the District of Columbia.
The scheme stole and laundered more than $245 million in cryptocurrency through social engineering.
Co-conspirator Evan Tangeman, 22, was sentenced in April to over five years in prison.
Lam faces up to 20 years in prison, with a status hearing scheduled for Dec. 8.

The Scheme

Lam, who used the aliases "Anne Hathaway," "$$$" and "King Greavy," led the operation, found victims and coordinated the roles of the defendants. Prosecutors first charged Lam and co-conspirator Jeandiel Serrano in 2024, and other defendants were also involved. The stolen funds were spent on nightclub services close to $500,000 an evening, luxury handbags and watches, rental homes in Los Angeles, the Hamptons and Miami, and luxury cars valued from $100,000 to $3.8 million.

Legal Proceedings

Lam pleaded guilty to one count of federal racketeering conspiracy, the U.S. Attorney's Office in the District of Columbia said. U.S. Attorney Jeanine Pirro said, "If you build a cybercrime empire, we will find you, dismantle your operation, and hold you accountable." Lam faces up to 20 years in prison, and a status hearing is scheduled for Dec. 8.