PANews reported on March 29 that a Singaporean man has been sentenced to two years in prison for helping a former colleague illegally transfer and launder approximately S$8.83 million (about US$6.5 million) in crypto assets.

The case details reveal that three former employees, after leaving the company due to a dispute, hacked into the SafeX cryptocurrency exchange account of their former employer, DLT Ltd, and transferred funds out in three separate transactions between June and August 2025. The suspects received the funds through their wives' accounts, repeatedly converted them into Bitcoin and the stablecoin USDT, and then dispersed them into multiple wallets to conceal their movements. Some of the funds were used for personal expenses. One suspect remains at large. (Lianhe Zaobao)