Two Men Charged in $230 Million Cryptocurrency Theft Linked to FBI Raid in Miami
MIAMI, FL — Two men have been charged in a federal conspiracy involving the theft and laundering of over $230 million in cryptocurrency, a scheme that culminated in an FBI raid at a Miami mansion. The U.S. Department of Justice identified the suspects as 20-year-old Malone Lam, a resident of both Miami and Los Angeles, and 21-year-old Jeandiel Serrano of Los Angeles.
According to federal authorities, the duo allegedly orchestrated the large-scale cryptocurrency theft and used a series of exchanges and mixing services to launder the illicit funds. The operation came to light after a federal indictment revealed that the men had stolen more than 4,100 Bitcoin from a victim in Washington, D.C., among other criminal activities.
Flaunting Ill-Gotten Wealth
The indictment claims Lam, a Singapore citizen who used aliases such as “Anne Hathaway” and “$$$,” and Serrano, known as “VersaceGod” and “@SkidStar,” flaunted their stolen wealth through extravagant lifestyles. According to the Justice Department, the two spent the stolen cryptocurrency on luxury cars, high-end watches, designer handbags, and international travel. Videos circulating online showed them boasting about their riches at parties, where they displayed some of the luxury goods purchased with the stolen funds.
FBI Raid in Miami
The conspiracy unraveled on Wednesday night when FBI agents raided a mansion near North Bayshore Drive in Miami, just south of Miami Shores. Neighbors reported hearing loud noises, initially mistaking them for fireworks, before realizing it was a federal operation. The property, which is reportedly a rental home, became the focal point of the FBI’s investigation into the alleged criminal activities of Lam and Serrano.
“We all walk at the same time, so tonight, it’s going to be peace for all,” one area resident said after learning of the arrests.
During the raid, smoke was seen pouring from the mansion as federal agents meticulously searched the property well into the night. Video footage captured by 7News showed FBI officials combing through the premises, searching for evidence related to the cryptocurrency theft and laundering activities.
City of Miami Police assisted the FBI in the raid, according to officials. The department confirmed its involvement as federal agents gathered crucial information that led to the arrest of Lam and Serrano.
Facing Federal Charges
The suspects were set to appear in U.S. District Courts in Florida and California on Thursday, facing charges of conspiracy to commit wire fraud, cryptocurrency theft, and money laundering. The indictment alleges that the pair, along with co-conspirators, accessed victim accounts and transferred the stolen cryptocurrency into their control, using it to fund their lavish lifestyles.
The charges against Lam and Serrano mark the latest in a growing list of high-profile cryptocurrency theft cases, as authorities continue to combat the rise in digital crimes involving cryptocurrencies. The investigation is ongoing, with the possibility of more arrests linked to the operation.
Authorities have not disclosed whether any of the stolen funds have been recovered at this time.
The case highlights the increasing threat of cryptocurrency-related crimes, as criminals continue to exploit digital financial systems. Federal authorities remain committed to tracking down cybercriminals who believe they can operate anonymously, reminding the public that no digital asset is beyond the reach of law enforcement.
South Florida Media Comments