22-Year-Old Singaporean Admits Guilt in $245 Million Crypto Fraud Case

Chainthink

Release Time: 2026/09/09 01:05:47

Summary

A 22-year-old Singaporean, Malone Lam, known as 'Greavys,' has pleaded guilty to a $245 million cryptocurrency news fraud case. Lam led a transnational network employing social engineering tactics such as fake customer service and hardware wallet theft. A co-defendant, Evan Tangeman, was sentenced in April to 70 months for money laundering. Lam faces up to 20 years in prison, with a sentencing hearing scheduled for December 8. The case underscores the risks inherent in the rapidly evolving network upgrade and security landscape of digital assets.

ChainThink reports that on September 9, 22-year-old Singaporean Malone Lam, known as "Greavys," pleaded guilty to a federal racketeering conspiracy charge involving $245 million.

The prosecution accused it of organizing a transnational "social engineering" network that stole victims' crypto assets through impersonation scams, database breaches, and hardware wallet thefts.

Evan Tangeman, a co-conspirator in the same case, was sentenced to 70 months in prison in April this year for money laundering. Lam faces a maximum of 20 years in prison, with sentencing scheduled for December 8.

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