Singapore Man Arrested for Stealing $50,000 During Cryptocurrency Transaction

A cryptocurrency transaction turned sour in Singapore when a man was arrested for allegedly stealing $50,000 from his victim. The incident occurred on June 21 at around 11:55 pm in New Upper Changi Road.

The victim had arranged to meet the suspect to purchase USDT cryptocurrency worth $100,000. While preparing to hand over the cash, he placed a portion of it on a bench. That's when the suspect allegedly grabbed $50,000 and fled the scene.

Police officers arrested the 25-year-old suspect after reviewing footage from police cameras and CCTVs. They recovered $7,450 in cash. The suspect is expected to be charged with theft on June 24, punishable by up to three years' imprisonment, a fine, or both.