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.

A 20-year-old man and his co-conspirator have been charged with conspiracy to steal and launder over $230 million in cryptocurrency, and federal<a class="excerpt-read-more" href=" More

Malone Lam is accused of conspiring with others to steal and launder over 4,100 Bitcoin worth more than US$230 million.

Malone Lam and Jeandiel Serrano were arrested Wednesday and indicted for stealing and laundering over $230 million worth of Bitcoin from a single victim in mid-August.

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.