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Malone Lam Bitcoin RICO guilty plea stories

Sep 7, 2026

Malone Lam pleads guilty to $245 million Bitcoin theft from Gemini impersonation scheme

Malone Lam, 22, is expected to plead guilty in federal court to orchestrating a $240-245 million Bitcoin theft by impersonating Google and Gemini staff to trick a Washington investor. A Singaporean co-conspirator also pleaded guilty.

Sep 7, 2026·4 sources

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Top claims

▪Complaints of cryptocurrency investment fraud to the FBI rose by nearly 50% in 2025, occurring alongside a reduction in federal regulatory crackdowns on the industry
▪Federal prosecutors should use the RICO Act to prosecute cryptocurrency theft rings
▪The FBI arrested Malone Lam on September 18, 2024, at a rented mansion in Miami, Florida, after receiving a tip-off from an off-duty law enforcement officer

Subtopics

Bitcoin security & risks1 Crypto custody regulation1 Crypto hacks1 Crypto regulation1 Social engineering attacks1

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