Singaporean Scammer Pleads Guilty to Stealing $240M Worth of Bitcoin

Malone Lam, a 22-year-old from Singapore living in the United States, pleaded guilty to stealing $240 million worth of Bitcoin. He led a group of young men who posed as a security team from Google and Gemini crypto exchange to trick the victim into divulging his Bitcoin keys.

Lam's accomplice, Jeandiel Serrano, made a fatal mistake by not hiding his IP address when creating a cryptocurrency exchange account holding $30 million in stolen funds.

The duo went on a spending spree, with Lam blowing $4 million at nightclubs in Los Angeles and buying a $2 million watch. They also rented a home for $47,500 a month.