NewsMV
A plea agreement hearing for Malone Lam, the 22-year-old Singapore national federal prosecutors have named as a suspected ringleader of the theft of more than 4,100 $BTC, then valued at over $240 million, from a single victim, is scheduled for Tuesday in federal court in Washington, D.C.
Prosecutors say the case ranks among the largest cryptocurrency thefts in U.S. The attack was carried out in August 2024.
How the stolen Bitcoin was taken Lam, an eighth-grade dropout, and alleged co-conspirators described by prosecutors as young men in their late teens and early 20s, reached out to the victim posing as representatives of Google and the Gemini cryptocurrency exchange.
They told him his accounts had been compromised, then persuaded him to share Google Drive access and hand over security codes.
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