Malone Lam is accused of conspiring with others to steal and launder over 4,100 Bitcoin worth more than US$230 million.
Malone Lam, a 20-year-old Singaporean who lives in Miami and Los Angeles, was among two people charged with conspiring to steal and launder US$230 million in cryptocurrency on Sep 19, 2024. SINGAPORE: A Singaporean living in the United States was among two people charged with conspiring to steal and launder US$230 million in cryptocurrency on Thursday .
Malone Lam, a 20-year-old Singaporean who lives in Miami and Los Angeles and Jeandiel Serrano, 21, from Los Angeles were arrested by the FBI on Wednesday night. Lan, Serrano and others had allegedly conspired to carry out cryptocurrency thefts and to launder the stolen cryptocurrency “through exchanges and mixing services” since at least August this year.
They laundered the proceeds, including by moving the funds through various mixers and exchanges using “peel chains”, pass-through wallets, and virtual private networks to mask their true identities.
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