The Crypto Scammers' Wild Ride: What's Behind the $240 Million Heist? Malone Lam, 22, allegedly led a cryptocurrency theft ring that went on a spending spree after stealing $240 million.
In one evening alone, Lam spent $569,000 at an LA nightclub, but behind the champagne toasts and designer handbags lies a more sinister story of cybercrime and corruption.
Cryptocurrency theft has become a lucrative business for young scammers who operate from online gaming forums.