A Singaporean man obtained a two-year jail sentence for helping in the laundering of roughly $6.5 million in crypto assets, in accordance to crypto information outlet ChainCatcher. The funds have been siphoned from SafeX, a buying and selling platform operated by DLT Ltd, after three former staff infiltrated the system throughout a dispute. Between June and August 2025, they transferred the funds in three levels by way of the suspect’s spouse’s account, changing the assets into Bitcoin and USDT earlier than dispersing them throughout a number of wallets. A number of the funds have been later cashed out for private use. One suspect stays at massive. The case underscores rising regulatory scrutiny of real-world assets (RWA) and crypto operations.
In accordance to ChainCatcher, a man in Singapore has been sentenced to two years in jail for helping his former colleague in illegally transferring and laundering roughly S$8.83 million (round $6.5 million) in crypto assets. The case revealed that after three former staff left the corporate amid a dispute, they hacked into the SafeX crypto buying and selling platform, operated by DLT Ltd., and transferred funds in three separate transactions between June and August 2025. The suspects obtained the funds by way of their spouse’s account, repeatedly exchanged them for Bitcoin and the stablecoin USDT, and dispersed the assets throughout a number of wallets to obscure their path; some funds have already been cashed out for private bills. One suspect stays at massive.
