A 22-year-old Singaporean, Malone Lam, has pleaded guilty in the United States to a racketeering conspiracy charge for his role in a cryptocurrency heist that stole about $245 million in bitcoin. Lam and his associates used deception and stolen personal information to access victims' cryptocurrency wallets. According to the US Department of Justice, the group spent the proceeds lavishly, including up to $500,000 in a single night at nightclubs and the purchase of over 30 luxury vehicles, high-end watches, designer clothing, private jet rentals, luxury homes, and Hermes Birkin handbags.
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