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13 Indicted in $263M RICO Conspiracy Involving Crypto Theft
13 Indicted in $263M RICO Conspiracy Involving Crypto Theft
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Malone Lam, a 20-year-old operating under aliases like "SSS" and "King Greavys," has been identified as a key figure in a $263 million cryptocurrency theft scheme. Alongside 21-year-old Conor Flansburg and 11 others, Lam allegedly orchestrated social engineering attacks, wire fraud, and money laundering operations targeting high-value crypto holders.
The group, which met through online gaming portals, used sophisticated tactics to steal digital assets. Authorities uncovered the broader conspiracy after arresting Lam last year, leading to a RICO indictment on May 15, 2025. The case highlights growing concerns about organized cybercrime in the cryptocurrency space.
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