PANews reported on February 20 that according to Straitstimes, Ho Kai Xin, the former Bybit payroll director who embezzled US$4.2 million in public funds, refused to comply with the court order and spent nearly US$840,000 to buy a freehold penthouse and Louis Vuitton luxury goods after the court's ruling. He was sentenced to six weeks in prison for contempt of court.

It is reported that in 2023, the cryptocurrency trading platform Bybit sued Ms. Ho, who was responsible for paying wages within the company, for abusing her power and transferring a large amount of USDT to an address she secretly owned and controlled. The court ruled that Ms. Ho should immediately pay Bybit all transferred funds and interest.