A 20-year-old Singaporean, Malone Lam, was arrested in the United States for allegedly orchestrating the largest cryptocurrency theft in the country’s history. Along with his accomplice, 21-year-old Jeandiel Serrano, Lam reportedly stole over US$230 million (RM1.02 billion) worth of Bitcoin.
Singaporean Arrested for Largest Cryptocurrency Theft (RM1 Billion) in US History
Charged with conspiracy and money laundering, Lam lived extravagantly, spending over US$500,000 at nightclubs and purchasing over 30 luxury cars. He also gifted Hermes Birkin handbags to models. If convicted, Lam faces up to 20 years in prison and a fine of US$250,000. His trial is set for October 6. The case has drawn widespread international attention.
Lam, alongside his accomplice Jeandiel Serrano, allegedly stole 4,100 bitcoins from a “high net worth investor” by impersonating a Google support team member.
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