Singapore Teen on Trial in The Us for Crypto Scam Of $240M 

• A Singapore teenager, Malone Lam Yu Xuan, is currently  facing trial in the US for allegedly stealing $240 million worth of Bitcoin.
• Lam was arrested on September 18, 2024, at the Los Angeles International Airport while he was returning from a vacation in the Maldives, and has since then remained in detention as he awaits trial in October 2025.
  

A Singaporean teenager, Malone Lam Yu Xuan, is set to face trial for a Bitcoin theft valued at $240 million (S$320 million). The U.S. authorities have accused him of his involvement in a very major crypto crime, which has caused significant financial losses to people. The case has drawn attention due to the scale of the fraud and its impact on investors.

The Singaporean teenager started his education at the Unity Secondary School in 2017, but he left soon after. He later told US investigators that he had dropped out between the ages of 13 and 14. Lam was very active in the online gaming space, using different usernames like “Greavys” in Minecraft and “Anne Hathaway” or “Malone” on Discord and so many other platforms.

In October 2023, Lam traveled to the US under a visa waiver program, which allows visitors from 42 countries, including Singapore, to enter for up to about 90 days for tourism or business. By January 2024, his visa had already expired, but he remained in the country as an illegal citizen. He spent time in Texas, Los Angeles, and even traveled to Canada.

Before relocating to the U.S, Lam had already formed a connection with Jeandiel Serrano, an American he met through Minecraft. The both of them gained popularity for allegedly stealing and selling different gaming accounts. By 2024, Lam had amassed millions from running different fraudulent activities, using the money for himself and also those around him.

The Arrest and Investigation Following The $240M Crypto Scam 

Lam was taken into custody on September 18, 2024, at the Los Angeles International Airport. He had just returned from a vacation in the Maldives with his girlfriend.

Before his arrest, Serrano’s girlfriend was questioned by the authorities. She went on to warn Lam, who was already in Miami after traveling from Los Angeles on a private jet. Investigators stated that he was caught while trying to run away, and since then, he has remained in detention.

On March 7, 2025, Lam’s attorney, Scott Armstrong, filed for a request for a jury trial. As of the time of writing, Lam is currently being held in Virginia, and his trial is scheduled for October 2025.

During a previous hearing, the prosecutors estimated that Lam could face between 168 and 210 months in prison due to the gravity of the crime. Additionally, at least $100 million of the stolen Bitcoin is still yet to be recovered.

Related Reading | Ripple Files for “Ripple Custody” Trademark, Eyes Crypto Wallet Market