Two men aged 20 and 21 were arrested for stealing $230 million in Bitcoin and spending it all on expensive cars, nightclubs, and handbags worth $10,000 in Bitcoin. Malone Lam, 20, of Miami, FL, and Jeandiel Serrano, 21, of Los Angeles, CA, were arrested. Lam, who is originally a Singapore resident, had rented four houses in Miami and was arrested at one of the houses by the FBI.
Malone Lam had a bunch of sketchy friends. One evening, the friends made a plan to “scam a rich crypto whale.” While others laughed about it, Lam said, “Let’s do it.” The group of friends found an unnamed investor from Washington D.C. with 4,100 Bitcoin ($230 million) in their account. The group of friends got away with extorting $230 million through a complex plot.
🇺🇸 A 20-year-old stole $230M in Bitcoin, bought her a Lamborghini and funded her luxury lifestyle. Now facing life in prison while she claims she doesn't know him.
He lost the Bitcoin and the bit-girlfriend.pic.twitter.com/K2biVd9b2Q
— Mario Nawfal (@MarioNawfal) May 7, 2026
While the other friends celebrated, Malone Lam went on a shopping spree. He ended up renting a Miami mansion for $68,000 per month, buying private jets, and buying a baffling 30 exotic cars. One of the cars was reportedly a Lamborghini with Lam’s name on it. A woman even posted a video on the internet stating how a “kid”, describing Lam, approached her at the club and gifted her a box with an expensive handbag.
The 20-year-old was reportedly shelling out $100,000 to $500,000 per night in clubs. He would even give extravagant presents, such as a pink Lamborghini, to former flames and tip the nightclub employees $2,000 as if it were nothing. However, Lam’s frivolous life didn’t last long. A user known only as @zachxbt had been tracking crypto scams and was often referred to as “Crypto Batman.”
20 Years Old and $230 Million💸
Malone Lam went viral for stealing $230 Million in a crypto sc*m
Reportedly he won’t be sent to prison
Instead he finessed getting a cybersecurity job for MicroStrategy as part of his 2 years of community service
Think it’s a fair… pic.twitter.com/poOGPKo8sH
— S. Super (@SaidJaalle) January 18, 2026
The user noticed the massive influx of money in the blockchain and decided to investigate. He eventually stumbled upon Malone Lam’s social media account and discovered his luxurious lifestyle. The user ended up digging and sending proof of the scam and various other videos to the FBI. This led to the FBI arresting Lam and his 21-year-old accomplice, Jeandiel Serrano. The two now face 20 years in prison.
Cryptocurrency is a huge fortune, and a large number of crimes are committed worldwide to acquire it. In a separate incident, a man ended up murdering his ex-girlfriend to steal her crypto fortune. According to the Brussels Times, Tamara Engels had previously expressed concern for her life after realizing that her ex-partner had returned to the country.
Without Engels knowing, the partner had kept a pair of keys to her house and decided to enter her house late at night with an accomplice. he two then tried to make the death look like a s*icide by taking Engels to the bathroom. The two suspects then “ransacked” her house in an attempt to acquire the large cryptocurrency fortune Engels had.
The ex-boyfriend was described as a “psychopathic person” who dressed “in the most expensive brands and drove around in Porsches.” He had previously duped Engels of €400,000 and was planning to do it again. However, following Engels’ killing, the two suspects were arrested and presented in court.
