Evidently Malone did not acknowledge the rank of captain during the war. He signed a parole at Mobile as 1st Lieutenant on May 10, 1865. During the war he served as 2nd and then 1st Lieutenant of Co. "F", 24th Alabama Regiment, a Mobile company which organized as the "Alabama Guards." Members enlisted in Confederate service on Oct. 14, 1861.

In the reorganization of the depleted Army of Tennessee on Apr. 10, 1865, survivors of the 24th Alabama reorganized as companies “A”, “B” and “C” of the consolidated 24th Alabama Regiment. Malone was assigned to duty as Captain of consolidated Company "B", but it doesn't seem that he was actually present with the regiment. Other companies included officers and men from the 28th and 34th Alabama Regiments.

A document from Malone's service file dated March 1865 places him in Mobile, so it seems doubtful he would have been able to rejoin his command in North Carolina under conditions prevailing at the end of the war.

Here's an image of Edward Malone in an antebellum military uniform of a captain. I don't find his name on a register of the AVC, but those records for Mobile County are imcomplete.
http://216.226.178.196/cdm4/item_viewer.php?CISOROOT=/photo&CISOPTR=4948

No pension application found.