Singapore uncovers an employee internal theft of crypto assets, involving nearly 8.83 million SGD

Odaily · 2026-03-29T05:04:33+00:00

Singapore uncovers an employee theft of cryptocurrency assets, amounting to approximately 8.83 million SGD. The defendant, Zhang Xinghua, and a former colleague, dissatisfied with their dismissal, illegally infiltrated the former employer's accounts to steal cryptocurrencies and launder money. Zhang has been sentenced to two years in prison. Dai Yong is involved in the case, and Chen Chongxin is at large, revealing internal personnel risks and crypto security challenges.

Odaily

2026-03-29 05:04:33

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Odaily Planet Daily News: Singapore has uncovered a case in which employees fought internally and stole crypto assets. The amount involved is nearly 8.83 million Singapore dollars. It is reported that the defendant, Zhang Xinghua, with two former colleagues—Singaporean Dai Yong and Singapore permanent resident Chen Chongxin included—due to dissatisfaction after being dismissed, illegally accessed the accounts of their former employer’s crypto platform. They stole cryptocurrency totaling approximately 8.83 million Singapore dollars in three separate instances, and carried out “money laundering” through multiple transfers and exchanges.

The case involves the platform SafeX, which is operated by DLT Ltd registered in Seychelles. The three previously held relevant technical and management roles. After leaving, they planned to set up their own business and carried out the theft. At present, Zhang Xinghua has admitted to two counts and has been sentenced to two years in prison; Dai Yong is implicated, and Chen Chongxin is still on the run. The case highlights risks from insiders and challenges in the security and compliance of crypto assets. (Lianhe Zaobao)

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