Malone Lam

Last updated

Malone Lam
Born
Malone Lam Yu Xuan

(2004-07-19) July 19, 2004 (age 21)
Singapore
Other namesAnne Hathaway, $$$, Greavys

Malone Lam Yu Xuan (born July 19, 2004) [1] is a Singaporean man indicted in 2024 as the main perpetrator behind cryptocurrency theft and money laundering schemes exceeding $260 million. [2] [3]

Contents

Prosecutors allege that Lam and his associates stole more than 4,100 Bitcoin from a single investor, in what authorities describe as the largest known single-victim cryptocurrency heist in history, and the first Bitcoin-related Racketeer Influenced and Corrupt Organizations Act (RICO) in history. [4] Lam has admitted to being involved in multiple crypto thefts. [5]

Early life and education

Lam grew up in Singapore. He attended Unity Secondary School in Choa Chu Kang, Singapore, [6] in 2017. [7] By his teenage years, he had dropped out of school and became involved in cryptocurrency trading and online gaming communities, including Minecraft and Discord. [8]

In 2023, he moved to the United States, residing in Miami, Florida, and Los Angeles, California.

Background

According to The New York Times , Lam and his co-conspirator Jeandiel Serrano live-streamed a social engineering heist to friends online and later used the stolen funds to go on a spending spree involving 33 luxury cars, jewelry, travel, and nightclubs [9] before being arrested within a month of the theft. [10]

Lam was arrested by the Federal Bureau of Investigation in September 2024 in Miami, Florida. [11]

In 2025, a superseding federal indictment expanded the case, describing a wider criminal enterprise that allegedly operated from 2023 to 2025. [12] According to the indictment, Lam and 12 others allegedly orchestrated additional thefts, including an incident in July 2024 in which cryptocurrency was taken from a second victim, and are said to have coordinated a burglary in New Mexico. A number of these individuals have plead guilty. [13] [14] In 2025, it was reported that U.S. prosecutors had offered Lam a new plea deal. [15]

References

  1. ↑ "LAM MALONE 09/18/2024". Broward County Mugshots Zone. 18 September 2024. Retrieved 1 December 2025.
  2. ↑ Mangan, Dan (15 May 2025). "Bitcoin RICO: Feds say $265 million crypto theft ring blew $13M on exotic cars, nightclubs". CNBC. Retrieved 30 November 2025.
  3. ↑ Murphy, Margi (2 October 2024). "Accused Crypto Hacker Becomes an Overnight TikTok Celebrity". Bloomberg.com. Retrieved 30 November 2025.
  4. ↑ Knappenberger, Ryan (22 October 2024). "$230 million crypto scam one of largest single victim thefts in history, prosecutors say". Courthouse News Service. Retrieved 30 November 2025.
  5. ↑ Greenberg, Andy. "Meet ZachXBT, the Masked Vigilante Tracking Down Billions in Crypto Scams and Thefts". Wired. ISSN   1059-1028 . Retrieved 1 December 2025.
  6. ↑ Correal, Annie (20 September 2024). "2 Stole $230 Million in Cryptocurrency and Went on a Spending Spree, U.S. Says (Published 2024)" . Retrieved 30 November 2025.
  7. ↑ Wong, Andrew (16 March 2025). "In 7 years, student from Choa Chu Kang went from gamer to alleged role in $320m crypto heist". The Straits Times. ISSN   0585-3923 . Retrieved 30 November 2025.
  8. ↑ Moxley, Mitch (24 April 2025). "They Stole a Quarter-Billion in Crypto and Got Caught Within a Month". The New York Times. Retrieved 30 November 2025.
  9. ↑ "S'porean charged with $306m Bitcoin theft spent $665k a night in clubs, bought over 30 luxury cars". The Straits Times. 10 March 2025. ISSN   0585-3923 . Retrieved 1 December 2025.
  10. ↑ Correal, Annie (20 September 2024). "2 Stole $230 Million in Cryptocurrency and Went on a Spending Spree, U.S. Says (Published 2024)". The New York Times. Retrieved 30 November 2025.
  11. ↑ "FBI raids luxury home in Miami, neighbors see "really fancy cars" taken away - CBS Miami". www.cbsnews.com. 20 September 2024. Retrieved 30 November 2025.
  12. ↑ "CRIMINAL NO. 24-CR-417 (CKK)". United States Department of Justice.
  13. ↑ "District of Columbia | Cryptocurrency Money Launderer Pleads Guilty to RICO Conspiracy in Scheme that Stole $263 Million in Crypto | United States Department of Justice". www.justice.gov. 18 November 2025. Retrieved 30 November 2025.
  14. ↑ Jain, Sanya (12 March 2025). "Singaporean behind $230M Bitcoin heist spent $500,000 a night at clubs, bought 30 cars, Hermes bags". Hindustan Times. Retrieved 30 November 2025.
  15. ↑ "Singaporean accused of leading US$260m crypto heist offered new plea deal". Malay Mail. 19 November 2025. Retrieved 30 November 2025.
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