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Singaporean crypto traders robbed of over 4.3 million SGD in armed robbery

Singaporean crypto traders robbed of over 4.3 million SGD in armed robbery

CointimeCointime2024/05/02 07:55
By:Cointime

According to the Lianhe Zaobao, Singapore police received a report at 02:00 on April 18 that a residential unit in the King Albert Park area had been robbed by at least four men, where 11 victims aged between 25 and 45 (suspected to be involved in a Chinese cryptocurrency gambling ring) were robbed of various valuable items, including Singapore and foreign currency, cryptocurrency, and luxury brand watches, with a total value of about SGD 4.34 million (about USD 3.19 million). Following the investigation, the Criminal Investigation Department and Kampong Java Police Division in Singapore confirmed the identities of the suspects and found that they had fled to Malaysia shortly after the police received the report. With the cooperation of the Royal Malaysia Police, two suspects, aged 28 and 32, were arrested in Malaysia on April 27 and 28, respectively, and extradited to Singapore on April 30. Other suspects are still at large. Under the Singapore Criminal Code, if convicted of armed robbery, they could face a maximum sentence of 20 years in prison and 24 strokes of the cane.

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