Plea hearing set for alleged crypto ring leader in $240M Bitcoin heist

Malone Lam, a 22-year-old Singaporean described as the alleged ringleader of a network that stole more than 4,100 Bitcoin—worth over $240 million—from a single victim via a social-engineering scam posing as Google and Gemini reps, is slated for a plea agreement hearing in federal court in Washington, D.C. Prosecutors say Lam and accomplices laundered the funds and lavished them on private jets, a $2 million watch, a fleet of luxury cars, and multimillion-dollar homes, spending about $4 million at Los Angeles nightclubs in a month. Eighteen defendants have been charged; ten have pleaded guilty, and Lam could face a lengthy prison term if convicted.