India, Sept. 9 -- A Singaporean national has pleaded guilty to participating in a racketeering conspiracy. US prosecutors said that Malone Lam, 22, used social engineering and home break-ins to steal and launder more than $245 million in cryptocurrency.

The plea establishes criminal responsibility almost two years after Lam was charged over the theft of more than 4,100 Bitcoin, worth over $230 at the time, from a Washington, DC resident.

Lam grew up in Singapore and attended Unity Secondary School in Choa Chu Kang in 2017. He dropped out of school during his teenage years and became involved in cryptocurrency trading and online gaming communities, including Minecraft and Discord.

He moved to the US in October 2023, and lived in Miami, ...