An Instagram reel (right) showing Malone Lam (left) purportedly having an extravagant party at a nightclub. -- PHOTOS: BSO, IAINTEVENTRIPPIN_/INSTAGRAM via The Straits Times/ANN
SINGAPORE: Singaporean Malone Lam – arrested and charged over one of the biggest crypto heists in the United States – splurged up to US$500,000 (S$665,000) a night at clubs and bought more than 30 luxury cars, including a Pagani Huayra for US$3.8mil and customised Lamborghinis.
The US Department of Justice (DOJ) said the 20-year-old and co-accused, American Jeandiel Serrano, 21, were arrested in September 2024 and charged with “conspiracy to steal and launder over US$230mil in cryptocurrency from a victim in Washington, DC”.
At today’s prices, the 4,100 stolen bitcoin are worth more than US$450mil.
In his latest court hearing last week, Lam appeared in a green prison jumpsuit in a Washington court where his trial date was set for Oct 6.
In the short time between the theft and their arrest, Lam and Serrano wasted no time in living it up on their alleged ill-gotten loot.
Management at Los Angeles nightclubs told US investigators that Lam “was spending approximately US$400,000 to US$500,000 per night” at their premises.
One receipt from an LA club showed that Lam supposedly spent US$569,528.39 in one night.
The bill included US$38,500 for 55 bottles of Grey Goose vodka, US$72,000 for 48 bottles of Ace of Spade Brut champagne and US$300 for five buckets of Red Bull.
There were also purchases of more than 30 luxury cars – including multi-million-dollar customised Lamborghinis, Ferraris and Porsches – and top-end watches. — The Straits Times/ANN
