In keeping with latest reviews, three people have been handed jail phrases for his or her involvement in a Bitcoin (BTC) theft case in Ho Chi Minh Metropolis (HCMC), Vietnam.
Pham Van Thuan, Nguyen Thai Son, and Nguyen Cong Dung have been convicted of stealing seven Bitcoin, valued at VND7 billion (roughly $287,500), from a person named Trieu.
From Borrowed Bag To Stolen Bitcoin
Pham Van Thuan and Nguyen Thai Son established a friendship with Trieu in 2018. In April of the next yr, Thuan, dealing with monetary difficulties, sought momentary lodging at Trieu’s place in District 6 of HCMC.
Throughout his keep, Thuan borrowed a laptop computer bag from Trieu and stumbled upon a notice containing a Belief Pockets restoration phrase. This discovery granted Thuan unauthorized entry to Trieu’s account, revealing that he possessed seven Bitcoin, equal to VND7 billion.
In keeping with the investigations, Thuan returned the borrowed bag however determined to steal the seven BTC by logging into Trieu’s pockets and transferring your entire quantity to his account.
Shortly after the theft, Thuan vacated Trieu’s residence, leaving no hint of his actions. Suspecting foul play, Trieu tried to contact Thuan however obtained no response. Consequently, Trieu reported the theft to the police.
Nguyen Thai Son intervened within the state of affairs, serving to Thuan evade seize by arranging a resort room for him. Son then reached out to his good friend, Nguyen Cong Dung, in Hanoi, requesting his help in resolving the matter.
The trio agreed that Thuan would share 4.3 Bitcoin with Son and Dung. Son transformed 1.8 Bitcoin into Tether’s USDT and bought it for over VND775 million. However, Son and Dung squandered the proceeds, partly reinvesting in cryptocurrency, leading to monetary losses.
Crypto Heist Ends In Convictions
Following their plan, Thuan fled to Son’s hometown within the Central Highlands province of Lam Dong. Nonetheless, on Might 21, throughout negotiations with Trieu over the stolen BTC, Thuan was apprehended by regulation enforcement authorities.
As Vietnamese legal guidelines don’t acknowledge Bitcoin and different digital currencies as authorized tender, the defendants have been held accountable for the transformed quantity in Vietnamese forex.
The HCMC court docket delivered its verdict, sentencing Pham Van Thuan to 13 years in jail for “utilizing pc networks, telecommunications networks, and digital means to commit acts of property appropriation.”
Nguyen Thai Son obtained a sentence of eight years and 6 months for “consuming property obtained by another person’s crime,” whereas Nguyen Cong Dung was sentenced to 10 years in jail.
As of the present replace, BTC stays range-bound, fluctuating throughout the value vary of $36,900 to $37,400. Over the previous 24 hours, the cryptocurrency has skilled minimal value volatility. Nonetheless, it has recorded positive aspects of almost 3% over the seven few days.
Featured picture from Shutterstock, chart from TradingView.com
