22-Year-Old Mastermind Behind Massive Rp 4.2 Trillion Theft

A 22-year-old man named Melane Lam has become the mastermind behind the theft of Bitcoin valued at US$240 million, equivalent to approximately Rp 4.2 trillion. The theft, which targeted a resident of Washington DC, is recorded as the largest cryptocurrency theft in the history of the United States.

Lam carried out this criminal act alongside several accomplices. He is one of 18 defendants in the case and was the 11th defendant to plead guilty in court.

The theft was executed using social engineering techniques. Two of Lam’s accomplices posed as representatives from Google and the Gemini cryptocurrency exchange.

They requested the victim to provide access to Google Drive and security codes, enabling the gang to seize control of more than 4,100 Bitcoin, as reported by CNN International.

Meanwhile, Lam’s role was to assist in laundering the money and converting the stolen cryptocurrency into cash. He used the proceeds of the crime to fund an extravagant lifestyle.

Reports indicate that he purchased around 30 luxury sports cars, including Porsches, Lamborghinis, and Ferraris. Lam also rented a luxury mansion in Miami and purchased a watch valued at US$2 million (Rp 35.4 billion).

Furthermore, he reportedly spent US$569,000 (Rp 10 billion) in a single night at a nightclub in Los Angeles.

Lam was eventually arrested by FBI agents in Miami, one month after he began squandering the stolen funds.

During the trial, he admitted to purchasing most of the luxury cars. However, he claimed he could not remember the specific types of vehicles he had purchased with the stolen money.

“I need time,” Lam stated when asked by the judge whether he remembered the vehicles he had personally purchased.