Malone Lam, a 20-year-old from Singapore, is facing trial in the United States for his alleged involvement in a conspiracy to steal and launder over $230 million in cryptocurrency.

The trial is scheduled for October 6, 2025, following Lam's court appearance in Washington DC on March 7, 2025, where he requested a speedy legal process.

Lam reportedly admitted to purchasing over 30 luxury vehicles, including a $3.8 million Pagani Huayra, and spending lavishly on nightlife, with reports of expenditures up to $500,000 per night.

Social media footage has surfaced showing Lam gifting luxury items, such as Hermes Birkin bags, to models and influencers, which has heightened public interest in the case.

This case has been labeled by US prosecutors as one of the largest cryptocurrency thefts from an individual in US history.

Lam, along with accomplice Jeandiel Serrano, allegedly stole 4,100 bitcoins by impersonating a member of the Google support team to manipulate a high net worth investor.

Using a remote desktop program, Lam was able to steal the bitcoin while Serrano engaged the victim to maintain the ruse.

The theft took place on August 18, 2024, when Lam and Serrano gained access to the victim's OneDrive and Gmail accounts, convincing him to transfer approximately $3 million in cryptocurrency.

The indictment reveals that Lam utilized cryptocurrency mixers and networks to conceal their identities while laundering the stolen funds.

Prosecutors plan to file a new indictment related to the case within the next 30 to 45 days, and the trial is expected to last about two weeks.

If convicted, Lam could face up to 20 years in prison and fines up to $250,000 or double the amount gained from the scams.

As of October 2024, approximately $70 million of the stolen cryptocurrency has been recovered or frozen, but over $100 million remains unaccounted for.