Hong Kong Court Sentences Two Teenagers for $2M USDT Scam

The District Court ordered detention for two 18-year-old defendants linked to a theft from a currency exchange safe in Tsim Sha Tsui last November.

USDT

84d ago

Summary

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Terms & Concepts

USDT (Tether): A stablecoin pegged to the US dollar, widely used for digital asset transactions.
Detention center: A correctional facility where offenders serve custodial sentences, typically for shorter durations.
Currency exchange: A business where people can convert one currency into another; in this case, involved in a theft incident.