According to ChainCatcher, the U.S. Department of Justice today released an indictment accusing 20-year-old Malone Lam and 21-year-old Jeandiel Serrano of conspiring to steal and launder more than 4,100 bitcoins worth approximately $230 million.
It is reported that the two suspects were arrested last night and will appear in the U.S. District Court for the Southern District of Florida and the Central District of California respectively.
The indictment alleges that Lam, Serrano and their accomplices obtained access to victims’ cryptocurrency accounts through fraudulent means since August 2024 and transferred the funds to accounts under their control. They then laundered the money through currency mixing services, exchanges and VPNs, and used the proceeds for international travel, nightclubs, luxury cars and luxury goods. Currently, the FBI and the IRS Criminal Investigation Division are conducting an ongoing investigation into the case.
