Singaporean Malone Lam charged in US with heading up cryptocurrency crime ring that stole millions

[disconsolate]

Singaporean Malone Lam charged in US with heading up cryptocurrency crime ring that stole millions​

Malone Lam has already been charged with stealing cryptocurrency worth US$230 million from one victim in Washington DC.

Malone Lam, a 20-year-old Singaporean, has been charged in the US with heading up a cryptocurrency crime ring. (Photo: Broward Sheriff's Office)

WASHINGTON: US authorities have charged Singaporean Malone Lam with heading up a 13-member crime ring that allegedly stole hundreds of millions of dollars of cryptocurrency.

The 20-year-old has already been charged with stealing cryptocurrency worth US$230 million from one victim in Washington DC.

In a new indictment, federal prosecutors alleged that he orchestrated a wider scheme with a dozen other individuals.

This included hiding money inside "squishmallow" stuffed animals and shipping them across the US to pay the gang’s members.

Lam appeared on Monday (May 19) in a court in Washington DC, where he pleaded not guilty to the superseding indictment.

The 13 suspects allegedly became friends via online gaming platforms and they developed a scheme that netted them a total of US$263 million.

They stole the money from cryptocurrency wallets, converted the crypto into dollars, and then laundered the money.

Malone Lam was reportedly central to the scheme and is named in the indictment as one of the gang’s two organisers.

The US Attorney’s office for the District of Columbia alleged that Lam and 21-year-old Conor Flansburg organised the scheme to identify and target crypto users.

 

[disconsolate]

He no need serve NS? So privileged. Which elite PAP son?

 

[50000]

He no need serve NS? So privileged. Which elite PAP son?

based on previous reports, I estimated he served NS then went over to US and fucked up....

but these are talents that they should get to sign on for the DIS

 

[Rogue Trader]

I remember reading he went to US right after he dropped out of.school. haven't served NS yet. But have to say he's quite a crafty fella. Can pull off such a big heist. Real local talent

 

[syed putra]

I was told block chain is foolproof.

 

[nabeifuckpap]

The real talent Singapore needs but doesn't deserve

 

[dr.wailing]

I wonder what his real motivations are for pulling off such a heist....If I can only probe his mind to learn about them.

 

[bobby]

Got any peekture of him having dinners with NCM, CHT or OYK?

 

[Rogue Trader]

I wonder what his real motivations are for pulling off such a heist....If I can only probe his mind to learn about them.

Money lah. Durh

 

[Rogue Trader]

I was told block chain is foolproof.

Your Masters program at Uptron didn't cover block chain syllabus?

 

[dr.wailing]

Money lah. Durh

Money is just one of the motivations.

Human emotions and motivations are complex and multi-layered.