Malone Lam, a Singaporean national, is expected to plead guilty in one of the largest crypto thefts in the United States. Lam allegedly helped steal hundreds of millions of dollars in crypto from an investor in Washington. The conspirators transformed their proceeds into extraordinary displays of wealth. According to federal prosecutors, Lam reportedly spent more than $569,000 at one Los Angeles nightclub, illustrating how quickly stolen crypto became conspicuous luxury.