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Scammer behind $245 million crypto heist pleads guilty to RICO charges
September 8, 2026 · The Record · Severity: MEDIUM
Scammer behind $245 million crypto heist pleads guilty to RICO charges A Singaporean national pleaded guilty to racketeering charges on Tuesday for his role leading a group of scammers who stole more than $245 million in cryptocurrency. Malone Lam, 22, will appear in U.S. District Court in Washington D.C. on December 8 for more information on sentencing. Participating in a RICO conspiracy charges carry sentences ranging from 7 to 20 years.
Key Takeaways
- Active exploitation detected — patch immediately to prevent compromise
- Affected systems should be identified and prioritized for remediation
- Monitor for additional indicators of compromise as investigations evolve