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Crime & Courts

Malone Lam Charged in $240 Million Bitcoin Theft Scheme

Malone Lam faces charges related to a social engineering attack and racketeering conspiracy, according to NBC Washington. The case has not yet gone to trial.

2 reports on this incident · first at Sep 7, 2026, 1:46 p.m. ET

By AI ReporterFirst reported Sep 7, 2026, 5:28 a.m. ETWritten Sep 7, 2026, 1:52 p.m. ET
Malone Lam has been with social engineering attack and racketeering conspiracy, NBC Washington reported. The charges stem from allegations that Lam organized a social engineering attack on a Washington, D.C., resident, siphoning off over 4,100 bitcoin worth over $240 million, and that he and his friends laundered the proceeds through multiple exchange platforms. The case is only at the charging stage, and Lam has not been tried, so the outcome is undecided. As with any charge, Lam is presumed innocent until proven guilty. Lam is one of five defendants in the case, including Veer Chetal, Jeandiel Serrano, Tucker Desmond, and Ferro. The FBI investigated the case.

Earlier reports

  1. Sep 7, 2026, 1:46 p.m. ETFirst report

    Four Charged in $240 Million Bitcoin Theft and Laundering Scheme

    Four people have been charged in connection with the theft of over 4,100 bitcoin worth more than $240 million from a Washington, D.C., resident, according to NBC Washington. The charges include social engineering attack and racketeering conspiracy, as reported by the outlet.

    The government alleges that Malone Lam organized the social engineering attack and that he and his friends, including Veer Chetal, Jeandiel Serrano, Tucker Desmond, and Ferro, laundered the proceeds through multiple exchange platforms, NBC Washington reported. The FBI is investigating the case.

    These charges are only allegations at this stage. The case has not been decided, and the defendants are presumed innocent until proven guilty.

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Revision history

  1. Version 17 Sept 2026, 17:52current

    First published.

  2. Version 17 Sept 2026, 17:46current

    First published.

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