Singapore prosecutors said three former SafeX staff accessed ex-employer accounts after dismissal and moved about S$8.83 million in crypto through transfers and swaps, with one former employee receiving a two-year sentence.
A former SafeX employee in Singapore was sentenced to two years in jail after admitting to charges linked to the theft and laundering of about S$8.83 million in crypto assets. Prosecutors said three former staff members hacked accounts belonging to their former employer after they were dismissed, then moved the funds through transfers and swaps to obscure their origin. Zhang Xinghua received the prison sentence, while one other suspect remains at large. The case expands on earlier reporting that the assets were taken from DLT Ltd’s SafeX platform and converted into Bitcoin and USDT before being dispersed across multiple wallets.