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AP Top News·September 8, 2026 at 7:53 PM

Malone Lam, a 22-year-old originally from Singapore, pleaded guilty on Tuesday to conspiring with friends to steal nearly $240 million in bitcoin from a Washington, D.C., resident, according to the Associated Press. Federal prosecutors described it as one of the largest cryptocurrency thefts in U.S. history, saying the group laundered the proceeds and spent them on a lavish spree. Lam, an eighth-grade dropout who came to the U.S. from Singapore, faces a potential prison sentence.

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cryptocurrencybitcoin theftguilty pleaJustice DepartmentMalone Lam

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