Police in Singapore arrested three males after a teen reported an tried theft involving $24,000.
The 19-year outdated ZK was seeking to trade the money for USDT when two males attacked him.
Strait Occasions has reported that police have charged 29-year outdated Benedict Yee Hong Fai with the assault and tried theft.
Singapore police have charged a person over an assault in opposition to a 19-year outdated throughout a gathering organized to facilitate face-to-face crypto for money trade.
In keeping with the Straits Occasions, police arrested three males in reference to the tried theft of a 19-year-old crypto dealer.
The teenager, recognized as ‘ZK’, was making an attempt to purchase USDT from a vendor he contacted on Telegram when two males ambushed and punched him whereas he waited to satisfy the alleged vendor.
Crypto dealer tried to trade $24k for USDT
Per official police accounts, the assault on the teenager occurred because the dealer tried to trade 32,000 Singapore {dollars} ($24,000) for the USDT stablecoin. ZK agreed to an offline peer-to-peer trade, settling to assembly with Benedict Yee Hong Fai, 29.
Yee allegedly contacted ZK through Telegram, providing to switch the USDT in trade for the $24k in money.
However whereas the unique venue for the face-to-face trade was inside a public shopping center, Yee modified it on the final minute. The brand new location was a parking zone close to the mall. Two males – 19 and 20 years outdated – have been arrested in reference to punching ZK and making an attempt to rob him.
Reportedly, ZK escaped along with his cash by fleeing to the shopping center.
In keeping with police data, the incident occurred on Aug. 29. Investigations led to the arrest of the three suspects between Aug. 30 and Sept. 3.
Yee is accused of being the mastermind of the tried theft and can stay in custody till the listening to of his case on Sept. 12. The Strait Occasions says the opposite two suspects haven’t been charged formally but and are serving to with police investigations.
