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Malone Lam, S'porean who allegedly stole crypto, spent over US$500,000 a night in clubs, bought 31 luxury cars & gave Hermès bags to influencers
His trial date was set for Oct. 6 in the US.
March 10, 2025, 06:28 PM
The 20-year-old Singaporean man, behind one of the United States's cryptocurrency heists in 2024, reportedly spent up to US$500,000 a night at clubs and on luxury goods.
Malone Lam was arrested on Sep. 18, 2024, by the Federal Bureau of Investigations (FBI) in the United States for conspiring to steal and launder over US$230 million in bitcoin, or about 4,100 of them from a person in Washington, D.C.
The 4,100 bitcoin is worth over US$334 million at the time of writing, owing to the volatility of the cryptocurrency asset.
Lam appeared at court on Mar. 7, where his trial date is set for Oct. 6 in the United States, reported The Business Times and CNA.
Lavish spendings
Lam was arrested alongside another man, Jeandiel Serrano, 21, from Los Angeles, California.
Lam and Serrano reportedly splurged their ill-gotten money on lavish items like luxury bags, cars, watches, liquor and nights out at clubs.
This included "an impressive collection of custom Lamborghinis, Ferraris, and Porsches", prosecutors said in a federal court filing, CNBC reported.
Luxury cars Lam bought. Photo via US District Court for the District of Columbia.
Lam admitted to prosecutors that he purchased 31 luxury automobiles.
U.S. investigators were informed by Los Angeles nightclubs that Lam was spending approximately US$400,000 to US$500,000 per night at their premises.
Photo from social media
One receipt from an LA club, purportedly from Lam, showed a spending of US$569,528.39 in one night.
The bill included 55 bottles of Grey Goose vodka, 48 bottles of Ace of Spade Brut champagne and 130 bottles of Casamigos Reposado.
As of last October, over US$100,000,000 remains unaccounted for, CNBC reported.
Social media videos
Following Lam's arrest, videos of Lam allegedly living it up at clubs and splurging on bottle services made their rounds on social media.
@et.performance Partying with him was CRAZY - - - #malone #birkinbag #malonemiami #club #crypto #bitcoin #money #malonelam #trending #trend #top #foryou #fyp #foryoupage ♬ Boogieman - EBK Jaaybo
Image via harrisonskylar/TikTok
Videos of influencers showing free Hermès bags they received from a man in nightclubs have also been linked to Lam.
Related stories
Top photos from X/ZachXBT, bustdownvince/TikTok, harrisonskylar/TikTok and US District Court for the District of Columbia
