PANews
PANews|Mar 29, 2026 03:57
[Singaporean Man Sentenced to Two Years in Prison for Assisting Illegal Transfer of $6.5 Million in Crypto Assets] A Singaporean man has been sentenced to two years in prison for assisting a former colleague in illegally transferring and laundering approximately 8.83 million Singapore dollars (around $6.5 million) in crypto assets. Case details reveal that after three former employees left their company due to disputes, they hacked into the crypto trading platform SafeX accounts under DLT Ltd. Between June and August 2025, they transferred funds in three separate transactions. The individuals involved received the funds through the wife's account, repeatedly exchanged them into Bitcoin and the stablecoin USDT, and dispersed them into multiple wallets to obscure the flow. Part of the funds has already been cashed out for personal expenses. One suspect remains at large. (Lianhe Zaobao)
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