The Singapore Court sentenced Ho Kai Shen to approximately 10 years in prison for defrauding a $ 5.7 million encryption currency by manipulating salary statements.
The 33-year-old, who admitted that he was guilty of 44 charges-including cheating and dealing with criminal revenues-has acquired the prison sentence for nine years and 11 months, according to what I said. Stranging times On February 20, 2025.
Crimes occurred while She was It works in Wechain, a platform for encryption networks that manages the services of the BYBIT. As head of the salary statements team, she took advantage of her arrival to the financial systems between October 2021 and October 2022, with her fraudulent activities starting in May 2022.
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He became more rude after her misconduct has not been discovered
Public Prosecutors stated that Ho became more rude with no misconduct, as they launched what they described as a “fraud spray” that drained BYBIT money.
Its fraudulent scheme ensures processing Microsoft Excel data schedule to create false payments. It is the re -orientation of the money Sperm For about 900 bybit to four coded currency portfolios under their control.
In total, she transferred about $ 4.2 million in this portfolio, which later turned into Fiat currency. The authorities revealed that the stolen money funded a luxurious lifestyle, including a $ 750,000 deposit on a 3.7 million dollar shed and high -end purchases from the luxury brand Louis Vuitton.
Although bybit is more than $ 1.1 million in Tether (USDT) from HO digital wallets and more than 140,000 dollars of its bank accounts, the company is still less than millions.
Only in: A Singaporean woman was sentenced to approximately 10 years in prison for fraud @bitbit_official Of more than $ 4 million in encryption.
Ho Kai XIN, 32, took advantage of her role in Wechain Fintech, who tackled by BYBIT salaries, by processing Excel data schedules to … pic.twitter.com/1FBRPPEMYY
– The Crypto Fool (@the_cryptoofool) February 20, 2025
The police also seized assets worth more than $ 330,000, including Mercedes -Benz. he He did not suggest any plan to restore the remaining funds.
Ho legal problems worsened when she got a six -week contempt for the court in January 2024 to spend on her illegal gains despite the court’s order that prevents her from doing so. The prison sentence will start for approximately 10 years after the completion of its current sentence.
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He is trying to author
During the investigation, Ho initially misled the authorities to blame a fake cousin named “Jason Teo” for transactions, which is required by the police.
Her lawyer, James Gomez, sought to lenient, highlights that he is the mother of two young children. She expressed her remorse for her actions. He requested a prison sentence for eight years of eight months, on the pretext that its crimes stem from the end of a moment in the verdict.
he He was arrested in April 2023, two months after Wechain informed her police behavior.
Last year, Cado Security Labs for Cyber ​​Security Company Warning from web3 professionals They became the latest victims of the campaign of advanced harmful programs. It uses fake meeting applications to steal sensitive accreditation data and encryption assets.
In a report, in a report, Tara Gold made fraudsters that the fraudsters benefit from artificial intelligence (AI) to formulate convincing websites and social media files that mimic legitimate companies.
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Main meals
- Ho Kai Chen was sentenced to approximately 10 years in prison for defrauding $ 5.7 million by manipulating salary statements.
- She redirect money to personal portfolios, using money for luxury purchases.
- He initially misled the authorities with false demands, but later acknowledged that he was guilty of 44 charges.
A woman appeared nearly 10 years later, for $ 5.7 million, against Beit in Singapore for the first time on 99bitcoins.