Investing Binge
The event has drawn attention in Singapore after reports of Lam’s beautiful investing from the alleged theft.  ,
He is said to have rented comfort houses, spent US$ 400, 000 to US$ 500, 000 per day at bars in Los Angeles and Miami, as well as bought dozens of pleasure cars that included practice Lamborghinis, Ferraris and Porsches.
Social media video apparently show him in bars, gifting Hermes Birkin luggage to versions and influencers.  ,
According to the prosecution, Malone Lam goes by the website monikers” Anne Hathaway” and”$$$”.
He and Serrano reportedly sent “unauthorised Google profile access” alerts to the target in the week leading up to the robbery.
They used surrogate and virtual private network (VPN) service to make it appear as if the entry attempt were coming from overseas. This laid the groundwork for the robbery through” complex social engineering”, according to court records.
The court heard that on Aug 18, 2024, Lam and his friend called the sufferer, pretending to be Google help staff members and telling the survivor there had been a hack effort on his account. The couple finally convinced the sufferer to provide the security codes to his account before Lam allegedly accessed the defendant’s Dropbox and Gmail accounts to find the crypto assets.
He also looked for more information on the victim’s personal records and found Gemini crypto swap information, said court documents.
The 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.
Initially, they allegedly convinced the victim to transfer about US$ 3 million of cryptocurrency to a crypto wallet controlled by Lam. They 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.
Serrano purportedly continued to manipulate the victim into opening several files, including those with private keys to over 4, 100 bitcoin. While Serrano continued to speak with the victim, Lam used the access keys to steal the Bitcoin.
Full evidence being used by the prosecutors is yet to be released but is believed to include a hard drive, online chat screenshots and Lam’s smartphone.  ,