Binance News
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Singaporean man arrested for allegedly stealing $230 million in crypto
According to BlockBeats, on March 10, Singaporean man Malone Lam was arrested for one of the largest cryptocurrency thefts in the United States. The U.S. Department of Justice said that Lam and co-defendant Jeandiel Serrano were suspected of conspiring to steal and launder more than $230 million in cryptocurrency. The 4,100 stolen bitcoins are worth more than $450 million.
Lam appeared in a Washington court and the trial date is set for October 6. They are suspected of using the proceeds for luxury consumption, including luxury cars, jewelry, etc. Lam admitted to buying 31 luxury cars, 22 of which have not been recovered.
If convicted, Lam faces up to 20 years in prison and a fine.
Lam appeared in a Washington court and the trial date is set for October 6. They are suspected of using the proceeds for luxury consumption, including luxury cars, jewelry, etc. Lam admitted to buying 31 luxury cars, 22 of which have not been recovered.
If convicted, Lam faces up to 20 years in prison and a fine.
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