Singaporean man sentenced to two years in prison for assisting in the illegal transfer of $6.5 million in cryptocurrency assets

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2026-03-29 06:19:58

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Golden Finance reported that on March 29, 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 the company due to disputes, hacked into the account of the cryptocurrency trading platform SafeX under their original company DLT Ltd, transferring 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 Bitcoin and the stablecoin USDT, and dispersed them into multiple wallets to obscure their flow, with some of the funds cashed out for personal expenses.
One individual involved in the case is still at large.

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