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Burglar jailed for role in US$250m crypto theft ring allegedly led by Singaporean Malone Lam
A 20-year-old man was sentenced to 78 months’ jail on Wednesday (May 6) in a US court for his role in a US$250 million cryptocurrency theft syndicate that was allegedly led by Singaporean Malone Lam. Marlon Ferro was tasked with being the syndicate’s burglar to break into homes to steal hardware wallets. He was also a key money launderer, using fraudulent identification documents to open a digital payment card account on a geo-blocked platform. This allowed the syndicate members to spend stolen cryptocurrency at shops and nightclubs in the US, mainly in Miami. After Lam was arrested and detained, Ferro was tasked ... (full story)
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