India, March 12 -- A US court has set the trial date for Singaporean national Malone Lam, the 20-year-old accused of orchestrating one of the largest cryptocurrency heists in American history. Lam, who allegedly stole over $230 million worth of Bitcoin, will stand trial on October 6 in Washington, DC, Channel News Asia has reported.

At today's prices, the 4,100 Bitcoin he stole are worth more than $450 million. If convicted, he faces up to 20 years in prison.

Before his arrest in September 2024, Lam reportedly burned through his stolen fortune at an astonishing pace. Investigators say he splashed out up to $500,000 a night at nightclubs in Los Angeles and Miami, leaving behind receipts that included extravagant purchases such as $72,000...