The FBI launched a significant operation on Wednesday, raiding a luxury waterfront home in Miami linked to a cryptocurrency theft valued at hundreds of millions of dollars. Concurrently, agents arrested a suspect in Los Angeles as part of the same investigation. This action stemmed from a grand jury indictment unsealed on Thursday, which detailed a massive $230 million cryptocurrency scam.
In Miami, agents apprehended Malone Lam, a 20-year-old with residences in both Miami and Los Angeles. Simultaneously, in California, 21-year-old Jeandiel Serrano was taken into custody. They face charges of conspiracy to commit wire fraud and conspiracy to launder money. Both individuals concealed their identities online, with Lam using aliases such as “Anne Hathaway” and “$$,” while Serrano went by “VersaceGod” and “SkidStar.”
According to the indictment, the duo used these pseudonyms to infiltrate individuals’ cryptocurrency accounts, unlawfully transferring funds to themselves. They allegedly laundered the money through various cryptocurrency exchanges and wallets to obscure its origins.
In August, Lam, Serrano, and others contacted a Washington resident to fraudulently acquire 4,100 Bitcoin, which was valued at approximately $230 million at that time. The pair reportedly spent their ill-gotten gains on lavish lifestyles, including nightlife, travel, luxury cars, jewelry, designer handbags, and upscale rentals in Miami and Los Angeles. The property raided by federal agents, located at 1201 NE 83rd St., is a 10-bedroom, 10-bath luxury home listed for $11.5 million, set on a scenic canal. Neighbors noted that the residence is often rented out to visiting musicians or celebrities and frequently featured expensive vehicles like Maseratis and Lamborghinis parked in front.
Mark Ehrlich, a neighbor, recounted that as he was going to bed, flatbed trucks began arriving to load vehicles from the property. Early Thursday morning, FBI agents remained at the scene, where signs of a forceful entry were evident with parts of the front gate strewn across the sidewalk.
According to Miami-Dade property records, the home is owned by 1201 83rd Holdings LLC, with Avrahom Zagelbaum listed as the registered agent. Efforts to contact Zagelbaum were unsuccessful. Reports indicated that agents donned tactical gear and carried long guns during the raid.
Local residents expressed shock at the police presence, noting that it was unprecedented for their neighborhood. One resident, Soumare Barkowski, remarked on the inconvenience caused by the situation, as police instructed neighbors to stay indoors while the investigation unfolded. A notice was affixed to the property, citing violations related to parked vehicles lacking tags or registration. Barkowski commented on the numerous luxury vehicles present, stating, “I think everyone in the neighborhood was surprised at the amount of cars that were inside the yard or on the property.”
Miami police assisted the FBI during the operation, according to spokesperson Kiara Delva.
