Singapore Court Sentences Man in $6.9M SafeX Crypto Heist Case

Insider knowledge enabled a $6.9M crypto theft targeting the SafeX trading platform. Authorities froze $2.1M, yet $4.8M remains overseas, complicating recovery efforts. Laundering through mixers highlighted sophisticated tactics to conceal stolen crypto. A Singapore court sentenced a Chinese national to two years in jail for his role in a cryptocurrency theft that drained millions from a trading platform. The case highlights rising cybercrime risks facing digital asset exchanges. Authorities uncovered a coordinated scheme involving three former technology workers who targeted their previous employer’s crypto infrastructure. Investigators said the group exploited insider knowledge and attempted to conceal the stolen assets through laundering tactics. The theft involved cryptocurrencies worth more than $6.9 million, equivalent to about $8.8 million in Singapore do… Read The Full Article Singapore Court Sentences Man in $6.9M SafeX Crypto Heist Case On Coin Edition .