Investment
Features
FeesSafety
Academy
More
Pluang+

Man faces court over $230M Bitcoin theft in first-ever Bitcoin RICO case

Market News
07 Sep 2026
Crypto Briefing
View Source
Bearish
Man faces court over $230M Bitcoin theft in first-ever Bitcoin RICO case

Malone Lam, 22, is set to appear in a Washington, D.C. federal court for a plea hearing in a case involving the theft of over 4,100 Bitcoin valued at $230 million. He allegedly led a criminal group that used social engineering to impersonate Google and Gemini representatives, tricking a victim into giving account access. This is the first Bitcoin-related case prosecuted under the RICO Act, with charges including racketeering, wire fraud, and money laundering. Authorities have recovered about $70 million, but $193 million remains missing, highlighting challenges in tracing stolen cryptocurrency. If convicted, Lam faces up to 20 years per charge, with co-defendants already receiving significant prison sentences.

More News

XRP futures boom cools as price consolidates near $1.40, signaling lower volatility ahead.

XRP futures boom cools as price consolidates near $1.40, signaling lower volatility ahead.

XRP saw a surge in futures trading volume in late August, with leveraged traders dominating spot traders. Open Interest has decreased to around $3 billion, and liquidations have compressed, indicating a consolidation phase with lower leverage. XRP is...

Technical Signals
Bullish
4 hours ago
Privacy coins surge 213% since Bitcoin's peak, outpacing all other crypto sectors.

Privacy coins surge 213% since Bitcoin's peak, outpacing all other crypto sectors.

Privacy coins have surged 213% since Bitcoin's peak on October 6, 2025, outperforming all other crypto sectors which remain below that level. Zcash leads the rally with a 2,496% gain over the past year, boosted by institutional interest and a new ETF...

Market News
Bullish
4 hours ago
Bitcoin price rejected at $80.5K, bulls defend $79K support amid mixed momentum.

Bitcoin price rejected at $80.5K, bulls defend $79K support amid mixed momentum.

Bitcoin's price fell from a high of $80,537 to trade between $79,013 and $80,537 on September 7, 2026, showing short-term weakness but maintaining a constructive daily uptrend. The key support level at $79,013 is critical for bulls to defend, while r...

Technical Signals
Neutral
4 hours ago
XRP holds $1.40 as Senator Lummis warns Clarity Act delay could stall crypto laws until 2030

XRP holds $1.40 as Senator Lummis warns Clarity Act delay could stall crypto laws until 2030

Senator Cynthia Lummis warned that failure to pass the Clarity Act this term could delay meaningful cryptocurrency market legislation until 2030, impacting investment and regulatory clarity. Meanwhile, XRP maintains a stable price around $1.40 suppor...

Market News
Neutral
4 hours ago
Solana price dips 1.4% after failing to break $107 resistance, signaling possible volatility ahead.

Solana price dips 1.4% after failing to break $107 resistance, signaling possible volatility ahead.

Solana's price fell 1.4% on September 7, dropping from $106.46 to $104.97 after sellers defended the $107 resistance level. Despite this decline, Solana remains above key moving averages, indicating a still-strong broader trend. However, weakening ca...

Technical Signals
Bearish
4 hours ago
banner-footerbanner-footer

Invest & Trade with
#1 Award-Winning Investment Super App