Source: Broward County Sheriff’s Office

A 22-year-old Singaporean man has pleaded guilty in the United States to racketeering conspiracy over his role in one of the largest cryptocurrency thefts on record.

Malone Lam admitted that he and several associates stole $245 million worth of bitcoin before laundering the proceeds, according to the US Department of Justice, BBC reported.

Prosecutors said Lam and his accomplices spent as much as $500,000 in a single night at nightclubs using the stolen funds. They also purchased a collection of luxury and exotic vehicles, with individual cars reportedly costing between…