Singaporean Malone Lam requests 'speedy trial' in US for alleged US$230 million cryptocurrency theft

CNA11-15

WASHINGTON DC: A Singaporean man accused of stealing US$230 million in cryptocurrency has requested a "speedy trial" in the United States. Malone Lam, 20, appeared before a judge in Washington DC on ...

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His face was largely obscured by his glasses - in line with court protocol -and a blue surgical mask.Kollar-Kotelly asked Lam if he was aware of his rights concerning his request for a “speedy trial”, to which he answered yes.A speedy trial is a legal right und","collect":0,"end_time":0,"defaultTopTitle":"channelnewsasia.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2092627202.USD":"Blackrock ESG Multi-Asset A8 USD-H","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","BK4573":"虚拟现实","LU2265009873.SGD":"Eastspring Investments - Global Growth Equity AS SGD-H","LU2054465674.USD":"UBS (LUX) KEY SELEC SICAV DIGITAL TRANSFORMATION T \"P\" (USD) ACC","LU0672654240.SGD":"FTIF - Franklin US Opportunities A Acc SGD-H1","LU0965509010.AUD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (AUDHDG) INC","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU1244550577.SGD":"FTIF - Franklin Global Multi-Asset Income A (Mdis) SGD-H1","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","LU1880398471.USD":"AMUNDI FUNDS GLOBAL EQUITY \"A2\" (USD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","LU0061474960.USD":"天利环球焦点基金AU Acc","VPN":"Global X Data Center REITs & Digital Infrastructure ETF","LU2286300806.USD":"Allianz Cyber Security AT Acc USD","BK4514":"搜索引擎","LU1699723380.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"AP\" (USD) ACC","LU0345769631.USD":"NINETY ONE GSF GLOBAL EQUITY \"A\" (USD) INC","LU2461242641.AUD":"WELLINGTON US QUALITY GROWTH \"A\" (AUDHDG) ACC","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","IE00BJTD4N35.SGD":"Neuberger Berman US Long Short Equity A1  Acc SGD-H","GOOG":"谷歌","LU1261432733.SGD":"Fidelity World A-ACC-SGD","GOOGL":"谷歌A","BK4532":"文艺复兴科技持仓","LU2362541513.USD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (USD) ACC","SGXZ99366536.SGD":"United Global Innovation A Acc SGD-H","BK4553":"喜马拉雅资本持仓","BK4507":"流媒体概念","LU2362540622.SGD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (SGDHDG) ACC","BK4576":"AR","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU1235294995.USD":"FIDELITY GLOBAL TECHNOLOGY \"A\" (USDHDG) ACC","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU1201861165.SGD":"Natixis Harris Associates Global Equity PA SGD","LU1043141123.HKD":"NINETY ONE GSF GLOBAL FRANCHISE \"A\" (HKD) INC 2","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","LU1571399168.USD":"ALLSPRING GLOBAL LONG/SHORT EQUITY \"IP\" (USD) ACC","LU1935042215.USD":"MANULIFE GF GLOBAL MULTI-ASSET DIVERSIFIED INCOME  \"AA\" (USD) INC A","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU1803068979.SGD":"FTIF - Franklin Technology A (acc) SGD-H1","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","LU2592432038.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"A\" (USD) ACC","IE00BJJMRX11.SGD":"Janus Henderson Balanced A Acc SGD","LU2458330243.SGD":"FRANKLIN SHARIAH TECHNOLOGY \"A-H1\" (SGDHDG) ACC","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","LU1989764664.SGD":"CPR Invest - Global Disruptive Opportunities A2 Acc SGD-H","LU0882574139.USD":"富达环球消费行业基金A ACC","LU0314104364.USD":"MANULIFE GF AMERICAN GROWTH \"AA\" (USD) INC"},"translate_title":"新加坡人Malone Lam要求美国对涉嫌2.3亿美元加密货币盗窃案进行“快速审判”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VPN":1,"GOOGL":0.9,"GOOG":0.82},"content_text":"WASHINGTON DC: A Singaporean man accused of stealing US$230 million in cryptocurrency has requested a \"speedy trial\" in the United States.\nMalone Lam, 20, appeared before a judge in Washington DC on Thursday (Nov 14) for a pre-trial hearing to discuss the disclosure of evidence.\nLam and his co-conspirator Jeandiel Serrano, have been charged with stealing and laundering over 4,100 bitcoin - worth about US$230 million at the time - by pretending to be a Google employee.\nUS prosecutors have described the scam as \"one of the largest cryptocurrency thefts from a private individual ... in the history of the United States\".\nLam allegedly used the money to spend hundreds of thousands of dollars per night at nightclubs in Los Angeles and Miami, as well as buying dozens of luxury cars.\nOn Thursday morning, US Marshals brought Lam into the courtroom at DC District Court for the short status hearing.\nWearing blue trousers, and a white long-sleeved t-shirt with a blue prison shirt over the top, he sat beside his two lawyers. His face was largely obscured by his glasses - in line with court protocol - and a blue surgical mask.\nUS prosecutor Kevin Rosenberg and one of Lam’s defence team, Patrick J Queenan discussed sharing evidence ahead of the expected trial next year, known as the discovery phase. \nThat includes a hard drive, online chat screenshots and Lam’s smartphone, which remains locked. \nThe judge overseeing proceedings, Colleen Kollar-Kotelly, said that “the FBI has become quite adept at extraction” of data from phones.\nKollar-Kotelly asked Lam if he was aware of his rights concerning his request for a “speedy trial”, to which he answered yes.\nA speedy trial is a legal right under the US Constitution that protects against \"undue delay\" in criminal prosecution.\nThe judge suggested a trial could take place in March or April 2025.\nShe also asked if he wanted to continue to review the evidence his team will share with the prosecution.\nLam said: \"There’s no need for me to review the discovery from the government.\"\nIn a statement to CNA after Thursday's hearing, his attorney Scott Armstrong said: \"Mr Lam is 20 years old and unfortunately caught up in a very complicated case.  We will vigorously defend him.\"  \n\n\n\n\nTHE THEFT\nLam and Serrano, 21, from Los Angeles, allegedly targeted the victim because they identified him as a “high-net-worth investor” from the early days of cryptocurrency.\nAccording to court documents, the pair sent “unauthorised Google account access” notifications to the victim in the week leading up to the theft.\nThey used proxy and virtual private network (VPN) services to make it appear as if the access attempts were coming from overseas – this laid down the groundwork for the theft through “sophisticated social engineering”.\nThe court heard that on Aug 18, Lam and his accomplice called the victim, pretending to be Google support team members. They said there had been a hack attempt on his account.\nThe pair ultimately convinced the victim to provide the security codes to his account, before Lam allegedly accessed the victim’s OneDrive and Gmail accounts to locate the cryptocurrency assets.\nHe also “further scoured” the victim’s private accounts looking for additional information, court documents showed. Lam found Gemini cryptocurrency exchange records in the victim’s Google accounts.\nThe conspirators agreed that one of them should call the victim back and pose as a Gemini security team member to convince the victim that his cryptocurrency accounts had also been compromised.\nInitially, they allegedly convinced the victim to transfer about US$3 million of cryptocurrency to a crypto wallet controlled by Lam.\nThey then asked the victim to download a remote desktop connection program for his own security. This program gave Lam and Serrano real-time access to the victim’s computer.\nSerrano purportedly continued to manipulate the victim into opening several files, including those with private keys to over 4,100 bitcoin.\nWhile Serrano continued to speak with the victim, Lam used the access keys to steal the bitcoin.\n\n\n\n\n\n      A screenshot of a conversation between Malone Lam and Jeandiel Serrano. (Image: Court documents)\n    \n\n\n\n\nSPENDING SPREE\nCourt documents show Lam went on a spending spree, paying US$400,000 to US$500,000 per night at US nightclubs.\nLam also apparently bought a “collection of luxury automobiles”, some costing as much as US$3 million. They included custom Lamborghinis, Ferraris and Porsches.\nAccording to the court documents, Lam admitted to buying 31 luxury cars, 22 of which had yet to be found as of Sep 24. \nOn Sep 10, Lam flew on a private jet from Los Angeles to Miami to continue his spending spree.\nHe rented multiple homes in Miami, including one on Hibiscus Island and two other luxurious homes near the water. One of those homes had a monthly rent of US$68,000.\nIn Miami, Lam continued to spend money in nightclubs, as well as on jewellery and cars.\n\n\n\n\n\n      A screenshot showing how Malone Lam and Jeandiel Serrano allegedly manipulated the victim into opening his personal files while using a mirror program. (Image: Court documents)\n    \n\n\n\n\nNEXT APPEARANCE\nLam is being held pending trial at Northern Neck Regional Jail in Warsaw, Virginia, about two hours south of the US capital.\nHe will return to the DC court on Jan 9, 2025 when he and his co-defendant Jeandiel Serrano are scheduled for another pre-trial hearing. The judge could set a date for their trials at that hearing.\nFor each offence, Lam faces up to 20 years in jail, a fine of up to US$250,000, or up to twice his gains from the scams.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483354244"}