The Malone Lam crypto scam | CNA Explains

Singaporean suspect Malone Lam shot to infamy after he was arrested for allegedly stealing US$230 million in cryptocurrency. The 20-year-old used the money for swanky cars, travel, luxury watches and parties at clubs. How did he pull off "one of the largest cryptocurrency thefts" from a private individual US history? Here's what we know. Read more: https://cna.asia/40MkBxK More CNA Explains videos: https://www.youtube.com/playlist?list=PLbnMTcZEga8RZkFnvrVbOlyleVMcz1-vR 00:00 Introduction 01:11 The scam 04:14 The spending spree 05:05 The arrest 05:42 What's next? Subscribe to our channel here: https://cna.asia/youtubesub Subscribe to our news service for must-read stories: Telegram - https://cna.asia/telegram WhatsApp - https://cna.asia/whatsapp Follow us: CNA: https://cna.asia CNA Lifestyle: http://www.cnalifestyle.com Facebook: https://www.facebook.com/channelnewsasia Instagram: https://www.instagram.com/channelnewsasia Twitter: https://www.twitter.com/channelnewsasia TikTok: https://www.tiktok.com/@channelnewsasia