Pang Joon Hau in Singapore was robbed at $ 365,000 during a personal meeting with the prospective seller. This is reported by Cointelegraph.
According to the announcement of the Singapore Police, the crime was committed on April 8. After the victims appealed to the police, the law enforcement officers managed to establish the identity of the suspects and detain them.
One of the suspected, Mohd Abdul Rahman Mohama, allegedly said he was a part-time Bitcoin broker. He is reported to have given his accomplice Syed Mokhtar Syed Yusope about $10,000 and himself spent around $80,000 on luxury staff, including a Rolex watch worth $45,800. The remaining $271,000 are yet to be accounted for.
Detainees face punishment in the form of imprisonment for up to 5 to 20 years and at least 12 strokes with sticks. The authorities do not say whether they managed to return the cash, which became the prey of intruders.
The Police will not condone anyone committing such serious offences and profiting from the proceeds of the crime. We will spare no efforts in pursuing such criminals and deal with them in accordance with the law.
Commander of Central Police Division and Assistant Commissioner, Police
This case marks one of the first crimes associated with bitcoin, committed in Singapore.