SINGAPORE: For over a year, Malone Lam allegedly led a US-based crime ring that stole over US$263 million in cryptocurrency. He and at least 12 others were charged with crimes including racketeering and conspiracy, with Lam rejecting a plea deal after his arrest by the FBI. The syndicate, operating from 2023 to 2025, employed social engineering tactics to steal crypto through fake support calls and burglaries, laundering the stolen assets through offshore exchanges.
