US authorities have charged Singaporean Malone Lam, 20, for leading a 13-member crime ring that allegedly stole $263 million in cryptocurrency, including $230 million from one victim in Washington DC. The scheme involved laundering stolen cryptocurrency and hiding the money in “squishmallow” stuffed animals for distribution. Despite being arrested, Lam reportedly continued to orchestrate gang activities from jail, and if convicted, he faces over 20 years in prison and significant fines, with his trial set for October.
