$320m crypto heist suspect: How a Choa Chu Kang student went from gaming to a life of luxury
newsare.net
SINGAPORE – In just seven short years, Malone Lam Yu Xuan went from being a student in a secondary school in Choa Chu Kang to being dubbed crypto whizz-kid by some in the US in 2023. Many who saw his spending spree were amazed a 19-year-old could afford la$320m crypto heist suspect: How a Choa Chu Kang student went from gaming to a life of luxury
SINGAPORE – In just seven short years, Malone Lam Yu Xuan went from being a student in a secondary school in Choa Chu Kang to being dubbed crypto whizz-kid by some in the US in 2023. Many who saw his spending spree were amazed a 19-year-old could afford large mansions, a fleet of expensive cars and luxury clothes. In truth, Lam was living off the millions in crypto he stole from various investors, he later told investigators in the US. This was before August 2024, when he allegedly got involved in the theft of Bitcoin valued at more than US$240 million (S$320 million), one of the largest cryptocurrency thefts in US history. Legal documents obtained by The Straits Times showed that Lam, who turned 20 in 2024, had been living in the US on an expired tourist visa. Documents filed in a US court showed the then teenager pocketed millions and spent some of the money on himself and his friends. Among other things, he purchased and gifted a 2024 Mercedes SL and a 2023 Ferrari FS to Jeandiel Serrano.