Singaporean Malone Lam Pleads Guilty to $245 Million Fraud Case

22-year-old Singaporean Malone Lam, also known as "Greavys," has pleaded guilty to federal conspiracy to commit extortion, involving an amount of $245 million. Prosecutors allege that he organized a multinational "social engineering" network that stole victims' cryptocurrency assets through methods such as impersonating customer service, database breaches, and hardware wallet theft. Co-defendant Evan Tangeman was sentenced to 70 months in prison for money laundering in April of this year. Lam faces a maximum of 20 years in prison, with sentencing scheduled for December 8.

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