ChainCatcher news, according to the Singapore Business Times, a 20-year-old Singaporean, Malone Lam, has been arrested for allegedly participating in one of the largest cryptocurrency thefts in U.S. history. He reportedly spent up to $500,000 (approximately 665,000 SGD) in a nightclub in one night and was seen gifting Hermes Birkin bags to models and influencers at a lavish party. The U.S. Department of Justice stated that Lam was arrested in September 2024 along with his 21-year-old American accomplice, Jeandiel Serrano, and they are charged with "conspiring to steal and launder over $230 million (approximately 306 million SGD) in cryptocurrency." At current prices, the stolen 4,100 bitcoins are worth over $450 million.As of October last year, approximately $70 million has been recovered or frozen at various exchanges. Court documents reveal that "even considering the millions spent by Serrano and accomplices on cars and jewelry, over $100 million remains unaccounted for." If convicted of stealing over 4,100 bitcoins, Lam faces a maximum of 20 years in prison and a fine of up to $250,000 or twice the amount he profited from the fraud. Lam's trial date is set for October 6.

ChainCatcher news, citing Protos and reports from the Southern District Court of New York, indicates that Justin Sun's legal team has postponed the upcoming fraud and market manipulation trial (the third postponement so far) and has reinstated the previously dissolved Singapore TRON Foundation.The initial lawsuit filed by the SEC last March alleged that DeAndre Cortez Way (also known as SouljaBoy), Austin Mahone, and Justin Sun may have manipulated TRON and BTT tokens. Cortez Way defaulted, Mahone reached a settlement in August 2023. Justin Sun did not respond until a week after the default judgment against Mahone, acknowledging that he would fight the SEC.