Singaporean pleads guilty as ringleader in $245M crypto fraud

A 22-year-old Singaporean, Malone Lam — a Miami resident — has pleaded guilty to being the ringleader in what authorities describe as a $245 million crypto fraud case, among the largest in U.S. history. Lam was charged with stealing 4,100 bitcoin and led a ring that obtained crypto through online scams and home invasions.

The scammers posed as Google and Gemini support to trick the victim into handing over the bitcoin, according to CoinDesk. The plea marks a resolution in a major social-engineering heist carried out through fake support channels.