A young man pleaded guilty to stealing more than $245 million in cryptocurrency.

Malone Lam, a citizen of Singapore, has pleaded guilty in Washington to charges of leading a criminal conspiracy that stole more than USD 245 million in bitcoin from a single victim located in Washington.

Authorities have described the operation as one of the largest cryptocurrency thefts on record, highlighting the scale and sophistication of the digital asset heist directed by the young defendant.