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Singaporean arrested in US$306M Bitcoin heist lived a lavish lifestyle, splurged on luxury cars and handbags

Singaporean arrested in US$306M Bitcoin heist lived a lavish lifestyle, splurged on luxury cars and handbags
  • PublishedMarch 10, 2025

KUALA LUMPUR March 10, 2025 – A 20-year-old Singaporean, Malone Lam, has been charged in the United States for his involvement in one of the biggest bitcoin cryptocurrency heists in history.

Malone Lam and his luxury car possessions, picture by Channel NewsAsia.

Lam’s extravagant lifestyle is on full display— picking up six-figure nightclub tabs with ease and effortlessly gifting exclusive Hermès bags a testament to his lavish spending.

Lush Spendings & Luxurious Cars

Malone Lam, who used the online aliases “Anne Hathaway” and “$$$,” became known for his reckless spending habits. He reportedly splurged up to US$500,000 in a single night at exclusive clubs, frequently handing out rare Hermès handbags to models and influencers.

But his spending went far beyond nightlife. He amassed a collection of luxury cars, including a US $3.8 million Pagani Huayra and several customized Lamborghinis.

A Pagani Huayra car model.

In addition, he and his accomplice, 21-year-old American Jeandiel Serrano, used their stolen cryptocurrency to fund for international trips and purchase luxury homes in Los Angeles and Miami.

Prosecutors revealed that Lam had bought a total of 31 high-end vehicles. However, 22 of them are still missing.

The US$306M Bitcoin Heist

According to Business Times, Lam and Serrano allegedly stole over 4,100 Bitcoin, now valued at approximately US $450 million (RM1.99 billion). The U.S. Department of Justice (DOJ) reported that the pair was arrested in September 2024 a and charged with conspiracy to steal and launder over US $230 million in cryptocurrency from a victim in Washington, DC.

Authorities have successfully recovered or frozen around US $70 million from various exchanges, but more than US $100 million remains unaccounted for.

In his latest court hearing, Lam appeared in a Washington courtroom wearing a green prison jumpsuit. A judge has scheduled his trial for October 6. If convicted, he could face up to 20 years in prison, along with a fine of up to US $250,000 or double the amount he gained from the scheme.

Written By
Athira Rahman

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