Key Takeaways Malone Lam pleaded guilty to participating in a RICO conspiracy. The network used deception and break-ins to drain crypto wallets. Members spent proceeds on cars worth up to $3.8 million and $500,000 nightclub nights. Malone Lam Admits Leading the Crypto Theft Enterprise Malone Lam, a 22-year-old Singaporean citizen and recent Miami resident, pleaded guilty Sept. 8 in U.S. District Court in Washington to participating in a Racketeer Influenced and Corrupt Organizations Act, or RICO, conspiracy. The Justice Department identified Lam as the ringleader of an international enterprise that stole and laundered cryptocurrency valued at more than $245 million. …