Malone Lam, a 22-year-old Singaporean national living in Miami, pleaded guilty to participating in a RICO conspiracy that netted over $245 million in stolen Bitcoin. The plea, entered in a US District Court in Washington, D.C., marks the first time federal prosecutors have applied racketeering laws to a Bitcoin-related crime.

The scheme ran from October 2023 to May 2025 and involved the theft of more than 4,100 BTC. One individual victim alone lost 4,100 BTC in a single incident in August 2024, making it one of the largest single-victim crypto heists ever recorded.

Lam’s spending spree included exotic cars priced up to $3.8 million each, private jet charters, and nightclub tabs that reportedly reached $500,000 in a single evening.

The…