According to reports from Wu, the Hong Kong police announced that a 29-year-old Hong Kong man, while employed at a fintech company in Singapore, allegedly stole over 3.2 million USDT from the company’s accounts between November 2021 and July 2022. Part of the funds was transferred to his girlfriend’s and her brother's wallets. The police arrested two men and one woman in September 2022, recovering approximately 8.6 million Hong Kong dollars in virtual currency and 4.65 million Hong Kong dollars in cash and assets. The man was charged with one count of theft and three counts of money laundering, pleaded guilty, and was sentenced to 78 months in prison on the 15th.

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