Singaporean Man Charged for Bitcoin Scam
This is a US news story, published by CNA, that relates primarily to Jeandiel Serrano news.
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largest cryptocurrency theftsCNA
•How a Singaporean man allegedly stole US$230 million in cryptocurrency and what he spent it on
54% Informative
Malone Lam, 20 , has been charged in the US with conspiracy to commit wire fraud and money laundering.
Together with his co-conspirator, Jeandiel Serrano , they allegedly stole over 4,100 bitcoin worth about US$230 million .
The scam was described as “one of the largest cryptocurrency thefts from a private individual.. in the history of the United States ”.
Singaporean Lam spent US$ 569,528.39 in one night in a Los Angeles nightclub.
He also bought 31 luxury cars, 22 of which had yet to be found, court heard.
Serrano was arrested at Los Angeles International Airport on Sep 18 when he arrived home from a holiday in the Maldives .
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