According to a report by Lianhe Zaobao, former Singapore naval officer Zhang Rongxuan (transliteration) was sentenced to 6 years and 10 months in prison for stealing 1.7 million USDT from a friend's cold wallet. Case details revealed that Zhang broke into the victim's apartment, found the cold wallet and a piece of paper with 24 mnemonic words, and used the mnemonic on January 1, 2023, to transfer the assets. He then squandered the funds on luxury watches, loan repayments, and online gambling. After discovering the theft, the victim hired a blockchain security firm to trace the on-chain addresses, eventually exposing Zhang. Authorities have since recovered some of the stolen items, and Singapore's Ministry of Defence confirmed that Zhang has been dismissed from the armed forces. https://(wublock123.com)/news/singapore-ex-naval-officer-steals-1-7m-usdt-jailed-6y10m-60768