Singaporean Bitcoin heist suspect splurges S$665K on clubbing, gifts Hermes bags

Singaporean Malone Lam, one of the suspects in a massive US Bitcoin heist, lived like a king before his arrest — burning through S$665,000

Singaporean Malone Lam, one of the suspects in a massive US Bitcoin heist, lived like a king before his arrest — burning through S$665,000 per night in clubs, buying over 30 luxury cars, and even gifting Hermès Birkin bags to influencers.

Among his extravagant purchases were customised Lamborghinis, Ferraris, Porsches, and a US$3.8 million Pagani Huayra, reports The Business Times.

Arrested for S$306 million bitcoin heist

Lam, 20, and his accomplice, 21-year-old American Jeandiel Serrano, were arrested in September 2024 for allegedly masterminding the theft of 4,100 Bitcoin, valued at over US$450 million (S$599 million) today.

According to the US Department of Justice (DOJ), the duo conspired to steal and launder over US$230 million (S$306 million) in cryptocurrency from a victim in Washington, DC.

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Lam, who went by the online aliases “Anne Hathaway” and “$$$”, appeared in a Washington courtroom last week wearing a green prison jumpsuit, with his trial set for 6 October 2025.

Splurged S$665K or more a night in clubs

After pulling off the heist, Lam and Serrano wasted no time blowing their fortune.

Managers at Los Angeles (LA) nightclubs told investigators that Lam regularly dropped up to US$500,000 a night on wild parties.

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One jaw-dropping receipt from an LA club showed he spent US$569,528.39 (S$758,0) in a single night.

A breakdown of his bill showed purchases costing:

Additionally, there were acquisitions of over 30 luxury cars, including multi-million-dollar custom Lamborghinis, Ferraris, and Porsches, and high-end watches.

US prosecutors stated that at the time of his arrest, Serrano was wearing a watch worth US$500,000 (S$665,000).

Lam also bought a watch valued at US$2 million (S$2.6 million) and a Lamborghini Revuelto costing over US$1 million (S$1.3 million).

Viral social media videos featured Lam in nightclubs, handing out Hermes Birkin bags to models and influencers.

A random man gifted me a Birkin? #storytime #losangeles #hermes

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Kidnappers targeted parents

Lam’s fame came at a cost. In August 2024, Lam’s parents became targets of a kidnapping attempt.

According to a CNBC report, the incident involved a couple driving a Lamborghini, who claimed their son had rented the car.

The plan fell apart when the kidnappers’ getaway van crashed, forcing them to flee on foot. All six suspects were later arrested.

Arrested in Sep last year for Bitcoin heist

Lam had entered the US in October 2023 on a 90-day tourist visa but overstayed.

After the Bitcoin theft, he took a private jet from LA to Miami, where authorities arrested him in September 2024.

He was later indicted in US federal courts in Florida and California.

Prosecutors said Lam and Serrano used advanced laundering techniques to hide their identities, including “various mixers and exchanges, utilising ‘peel chains,’ pass-through wallets, and virtual private networks to conceal their real identities”.

According to the DOJ, they allegedly used the laundered cryptocurrency funds to pay for international travel, nightclubs, luxury cars, watches, jewellery, designer handbags, and rental homes in Los Angeles and Miami.

S$133 million still missing

Authorities have managed to recover or freeze about US$70 million (S$93 million), but over US$100 million (S$133 million) remains unaccounted for.

Serrano was found with US$20 million in stolen Bitcoin on his phone and agreed to return it to the FBI.

Prosecutors stated that Lam “confessed to buying 31 luxury cars,” but law enforcement has yet to recover 22 of them.

“Many of Lam’s vehicles have not been located as yet, such as his Pagani Huayra that he purchased for US$3,800,000,” they added.

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“Even considering the millions of dollars that Serrano and his co-conspirators spent on automobiles and jewellery, well over US$100,000,000 remains unaccounted for,” CNBC reported,