The 20-year-old Singapore-born Malone Lam headed a crime ring in the U.S. for over a year, organizing various crimes from online crypto-based loots to home invasions. When the FBI arrested him, he was living a luxury life in the US, with an expired tourist Visa, spending millions of dollars on mansions and expensive cars.
Court documents revealed that Lam was a leader of at least 12 criminals who publicly identified themselves as part of a “social engineering enterprise.” The group even ransacked 4,100 Bitcoin (valued at $230 million at the time) from a single victim.
This article delves deep into the life of Malone Lam, detailing his childhood and growth from an online gamer kid into a luxury boy living off the crypto he stole from various hodlers around the globe.
Who is Malone Lam? From Gamer to Sophisticated Crypto Fraudster
Malone Lam Yu Xuan completed his schooling at Unity Secondary School in the Singapore town Choa Chu Kang, and dropped out when he was 13 years old. He then started spending his time online and became a part of various gaming communities.
Lam’s online names include Greavys in Minecraft and Anne Hathaway in platforms such as Discord. After creating a trustworthy online community, he moved to the US in October 2023, on a visa waiver scheme that allowed residents from various countries to stay in the US up to 90 days.
From the U.S., he started meeting his online friends in person. According to the US Department of Justice (DOJ), Lam’s primary partner in crime is Jeandiel Serrano, a 21-year-old U.S. citizen, whom he met via Minecraft. Between October 2023 and August 2024, Lam, Serrano, and their team stole crypto from various investors until they were caught in September 2024.
The Luxury Lifestyle Of Malone Lam Caught Him
Between August 18th and 19th, 2024, the team stole 4,100+ BTC from an investor, making it one of the biggest crypto heists. Investigations revealed that Malone Lam rented multiple luxury mansions and 30+ million-dollar cars with the stolen funds. Apart from purchasing for his own luxury living, Lam even gifted cars like Mercedes SL and Ferrari FS to Serrano.
Lam started entering the nightclub scene of Los Angeles and became a known person due to his expensive giveaways to social media influencers and strangers. Social media influencer Skylar Harrison posted on her TikTok that Lam offered her a Hermes handbag. She witnessed him ordering a $100,000 worth drink, and he told her that he is the son of a Chinese billionaire.
Surveillance cameras and bills revealed that he spent more than $500,000 per night in the clubs, and this flashy overspending and attention-seeking mentality was the reason for his downfall. The social media stories, the appearance in nightclub banners, and the word-of-mouth resulted in Lam’s entry of Lam into the authorities’ radar. After an investigation, Lam was arrested on September 18th, 2024, at the Los Angeles International Airport.
How Malone Lam and His Team Orchestrated The Crimes?
Following the arrest, Malone Lam confessed to the investigators that he and his team had been involved in various crypto scams, including the 4,100 BTC heist. According to him, they used various Bitcoin mixers to mask the source of the cryptocurrencies and created fake identities as crypto investors.
Prosecutors allege Lam and his team for multiple crimes apart from the Bitcoin heist, including money laundering, racketeering, and home invasion. Investigators are also looking for a connection between recurring crypto-driven kidnappings and Lam’s racket.
Also Read: Ruja Ignatova: The Mystery Of The Crypto Queen
Concluding Thoughts
Malone Lam is now in prison, and his trial is scheduled to begin in October 2025. If the investigators prove that he is guilty, he will get more than 20 years in prison, considering the depth of his crime.
Amidst the increasing number of crypto-based crimes, the authorities have also witnessed significant growth in catching the perpetrators. However, the full responsibility of the funds in a decentralized milieu like cryptocurrency is up to the wallet owner. So, be cautious and DYOR before doing anything!