Singapore man Malone Lam pleads guilty after massive US bitcoin heist and spending spree

A 22-year-old man pleaded guilty on Tuesday to teaming up with friends to steal nearly a quarter-billion dollars in bitcoin from a Washington resident – one of the largest cryptocurrency thefts in US history – and then embarking on a wild spending spree with the laundered proceeds. Malone Lam, an eighth-grade dropout who came to the US from Singapore, faces a maximum prison sentence of 20 years after pleading guilty to a federal racketeering conspiracy charge. US District Judge Colleen...