A Miami man is facing charges after authorities said he teamed up with a California man in a scam to steal and launder over $230 million in cryptocurrency.

Two suspects were arrested in Miami this week and charged with conspiracy to steal and launder over $230 million in cryptocurrency using crypto exchanges and mixing services.

Malone Lam, 20, and Jeandiel Serrano, 21, were charged on Thursday with stealing over $230 million in cryptocurrency, which they used to fund a lavish lifestyle of international travel, luxury cars, jewelry,

The indictment states the suspects “used the illegally obtained cryptocurrency to purchase international travel, service at nightclubs, numerous luxury automobiles, watches, jewelry, designer

Malone Lam and Jeandiel Serrano allegedly spent the proceeds on nightclubs, luxury automobiles, watches and jewellery A Singaporean living in the United States was among two people charged with conspiring to steal and launder US$230 million in cryptocurrency on Thursday.

Two men are set to appear in federal court Friday after being arrested on charges of stealing and laundering $230 million in cryptocurrency from a victim in Washington D.C., authorities announced.