A Singaporean man sentenced to two years in prison for assisting in the illegal transfer of 6.5 million dollars in cryptocurrency assets
By: rootdata|2026/03/29 13:26:32
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A man in Singapore was sentenced to two years in prison for assisting a former colleague in illegally transferring and laundering approximately 8.83 million Singapore dollars (about 6.5 million US dollars) in cryptocurrency assets.
The case revealed that three former employees, after leaving due to disputes, hacked into the cryptocurrency trading platform SafeX, a subsidiary of their former company DLT Ltd, and transferred funds in three transactions between June and August 2025. The individuals involved received the funds through their wife's account, converted them multiple times into btc-42">Bitcoin and the stablecoin USDT, and dispersed them into multiple wallets to conceal their flow. Some of the funds have been cashed out for personal expenses. One individual involved is still at large.
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