The Department of Justice today released an indictment charging Malone Lam, 20, and Jeandiel Serrano, 21, with conspiring to steal and launder more than 4,100 bitcoins, worth approximately $230 million. It is reported that the two suspects were arrested last night and will appear in U.S. District Court for the Southern District of Florida and the Central District of California. The indictment alleges that starting in August 2024, Lam, Serrano, and their associates fraudulently gained access to victims' cryptocurrency accounts and transferred funds to accounts they controlled. They then laundered money through coin mixing services, exchanges, and VPNs, and used the proceeds for international travel, nightclubs, luxury cars, and luxury goods. The FBI and the IRS Criminal Investigation Division are currently conducting an ongoing investigation into the case.