#BinancePizza Singapore Fintech Employee Sentenced for USDT Theft in Hong Kong

AI Summary

According to PANews, a Singapore-based fintech company's Hong Kong branch experienced a significant theft involving over 3.2 million USDT, valued at approximately 26 million Hong Kong dollars. The incident involved an employee who executed 64 unauthorized transactions from the company's virtual currency account, transferring the funds to various electronic wallets on different trading platforms. Authorities have successfully recovered virtual currency worth about 8.6 million Hong Kong dollars, along with 4.65 million Hong Kong dollars in cash and assets.

The individual involved has been charged with one count of theft and three counts of handling property known or believed to represent proceeds from indictable offenses. The accused admitted to the charges in the Hong Kong High Court and was found guilty, receiving a sentence of 78 months in prison.