A 25-year-old man was arrested on Monday (June 22) for allegedly stealing $50,000 from a victim who had organized to buy US Greenback Tether (USDT) amounting to $100,000 from him.
Police said in a information launch on Tuesday night time that they have been alerted to the incident alongside New Higher Changi Street at 11.55pm on Sunday.
Preliminary investigations revealed that the victim was making ready to hand over money in change for the cryptocurrency and had positioned a portion of it on the bench.
The 25-year-old then grabbed the cash and fled the scene.
Officers from Bedok Police Division recognized the person by way of floor enquiries and with assistance from photographs from police cameras and closed circuit tv (CCTV).
He was arrested inside a day of the report and money amounting to $7,450 was recovered.
The person might be charged in courtroom on Wednesday for theft, an offence which carries a jail time period of up to three years, a wonderful, or each.
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