TechFlow news, May 16 — According to Hong Kong media outlet Hong Kong 01, a 29-year-old man has been sentenced to 78 months in prison for stealing over 3.2 million Tether coins (USDT) from the Hong Kong branch of a Singapore-based fintech company.
Between November 2021 and July 2022, the man carried out 64 transactions, siphoning off USDT worth approximately HK$26 million from the company’s cryptocurrency account and transferring the funds into digital wallets on multiple trading platforms. Police have recovered virtual assets worth around HK$8.6 million, along with HK$4.65 million in cash and other assets. The man pleaded guilty to one count of theft and three counts of money laundering.
Add to Favorites
Share to Social Media
