I'm shocked how many support or at least 'it is ok' comments here, so I won't go to tell my opinion about OP or if this is acceptable in general. Instead just my personal answer. Yeah, I lie about how much time I put to work, when I for some reason decided to put some of my personal time to solve some problem, or improve something, or simply experimenting. I'm not proud of it, but it happens.

Anyway, I never was in a team where such behaviour OP described was acceptable. Maybe it is cultural thing (I'm not from the western country), or just social (you try to be closer to people with the same values). Yes, you probably won't get fired immediately. But it is all clear and visible if person work so little. Visible to teamlead and other team members. You won't get promotion or bonus. And eventually your direct manager will try to remove you from the team. Even i firing is not so simple, there are usually ways to rotate him to different team. And if person gets the same 'recognition' in the next team, his case usually goes to HR and they would find they to 'let him leave'. I still agree that it is ok to work just as much as you are required for your pay. But if developer simply wants to work as little as possible, he eventually is asked to go work somewhere else. Because it is simply more enjoyable to work with developers who give a shit.