20-year-old, co-conspirator charged in $230M cryptocurrency theft following FBI raid of Miami mansion
Sep 20, 2024, 11:06 AM
20-year-old, Malone Lam, and his co-conspirator have been charged with conspiracy to steal and launder over $230 million in cryptocurrency, and federal authorities said the arrests are connected to an FBI raid of a mansion in Miami. (Miami Police/WSVN via CNN Newsource)
(Miami Police/WSVN via CNN Newsource)
MIAMI, FL (WSVN) — A 20-year-old man and his co-conspirator have been charged with conspiracy to steal and launder over $230 million in cryptocurrency, and federal authorities said the arrests are connected to an FBI raid of a mansion in Miami.
According to the U.S. Department of Justice, 20-year-old Malone Lam of Miami and Los Angeles, California, and 21-year-old Jeandiel Serrano of Los Angeles, were placed under arrest Wednesday night.
The federal indictment alleges the duo, along with others, orchestrated cryptocurrency thefts and laundered the proceeds through exchanges and mixing services.
One user on X, the social media platform formerly known as Twitter, uncovered the moment Lam allegedly landed more than $230 million in stolen Bitcoin from a victim in Washington, D.C.
The indictment states the suspects “used the illegally obtained cryptocurrency to purchase international travel, service at nightclubs, numerous luxury automobiles, watches, jewelry, designer handbags, and to pay for rental homes in Los Angeles and Miami.”
The duo are accused of flaunting it all at parties like one recorded on video, showing off the luxury cars and designer handbags.
Lam, a Singapore citizen using the online aliases “Anne Hathaway” and “$$$,” and Serrano, who goes by “VersaceGod” and “@SkidStar,” allegedly accessed victim accounts and transferred cryptocurrency into their control, including over 4,100 Bitcoin from the victim in Washington, D.C. in August.
But it all came to a screeching halt Wednesday evening, when FBI agents busted into a mansion near Northeast 83rd Street and 12th Avenue, located near North Bayshore Drive, just south of Miami Shores.
“I heard what I thought was fireworks,” said an area resident.
Neighbors said the home is a rental property.
Thursday night, FBI officials confirmed Lam and Serrano’s arrests are connected with this raid.
Smoke poured out of the mansion as federal authorities raided during daylight hours and investigated into the night.
7News cameras captured federal agents as they combed through every inch of the property.
City of Miami Police said they assisted FBI agents with Wednesday’s raid.
For neighbors left wondering what went down, they now have their answer.
“We all walk at the same time, so tonight, it’s going to be peace for all,” said an area resident.
Lam and Serrano were set to appear in U.S. District Courts in Florida and California on Thursday.
