A Singaporean man was recently arrested in what is currently known as the largest cryptocurrency theft case in the United States (US).
According to a report by Lianhe Zaobao, 20-year-old Malone Lam allegedly stole more than US$230 million (RM1,018,210,000) worth of Bitcoin with his accomplice, 21-year-old Jeandiel Serrano from Los Angeles.
The duo was charged with conspiracy to steal the cryptocurrency and launder money.
Following the theft, Lam apparently lived luxuriously by spending over US$500,000 (RM2,213,500) at nightclubs and buying more than 30 luxury cars, including customised Lamborghinis, Ferraris, and more.
A receipt showed that he spent US$569,528 (RM2,524,717) on several bottles of expensive vodka and champagne on August 26, 2024. Lam also allegedly gave Hermes Birkin handbags to models and internet celebrities while at the club.
Should Lam be found guilty, he could face up to 20 years in prison and a fine of US$250,000 (RM1,108,250), or twice the amount of what he had allegedly defrauded.
His trial date has been set for October 6 (Monday).
What do you think about this? Do feel free to share your thoughts in the comment section.
Also read: SG Man Crashes into JB Restaurant & Parked Car, Gets Arrested But Refuses to Cooperate with PDRM
