From Choa Chu Kang Student to $320m Crypto Heist Suspect

S'porean 'whizz-kid' splurged on mansions, luxury cars with millions in crypto allegedly stolen from investors

- Andrew Wong

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 Sunday 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.

A year later, Lam and Serrano ended up as co-accused in the Bitcoin theft, where they allegedly stole more than 4,100 bitcoins from a single victim between Aug 18 and 19, 2024.

Lam faces two indictments in the District of Columbia for conspiring to commit wire fraud, and for conspiracy to launder monetary instruments.

Each of the charges carries a maximum jail term of 20 years.

SINGAPORE STUDENT

Checks by ST showed Lam had enrolled in Unity Secondary School in Choa Chu Kang in 2017.

But he left soon after, later telling investigators in the US that he had dropped out of school when he was between 13 and 14.

Lam was active online, especially in the gaming community.

He went by the moniker "Greavys" in Minecraft and also used "Anne Hathaway" and "Malone" on various gaming platforms including Discord.