Malone Lam to Face Plea Hearing Tuesday in $230M Bitcoin Theft Case

Malone Lam is expected to appear in federal court on Tuesday for a plea hearing in connection with an alleged $230 million Bitcoin theft. Prosecutors allege that in August 2024, Malone Lam led an 18-person group that used social engineering tactics to obtain over 4,100 Bitcoins from a Washington, D.C. investor, subsequently spending the proceeds on cars, luxury homes, private jets, and club outings. If Malone Lam pleads guilty, he would become the 11th defendant to do so in the case.