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How a Singaporean man allegedly stole US$230 million in cryptocurrency and what he spent it on

CNA
Summary
Nutrition label

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 .

VR Score

39

Informative language

28

Neutral language

72

Article tone

semi-formal

Language

English

Language complexity

48

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

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