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PAYROLL THIEF GOES DOWN FOR BYBIT EMBEZZLEMENT Inside jobs aren’t new in crypto, but this one hits different. A payroll employee funneled $5.7M in USDT straight into her own wallets, spending it on penthouses, designer fits, and a luxury car before getting caught. This isn’t… https://t.co/DolnD9OxQg
$5.7M in crypto drained straight from payroll into personal wallets… then a penthouse! 🚨 A payroll employee in Singapore exploited internal controls, siphoning millions while living like a whale—luxury cars, designer fashion, and a $3.7M penthouse. But on-chain breadcrumbs led…
Nearly 10 years’ jail for woman who committed cheating linked to over $5.7m of mostly crypto funds | The Straits Times https://t.co/z9ukfJYYB2
A former payroll chief at Bybit, Ho Kai Xin, has been sentenced to nearly 10 years in prison for embezzling approximately $5.7 million in cryptocurrency. The Singaporean woman was found guilty of falsifying payroll records to siphon funds from the crypto exchange. The stolen money was used to purchase luxury items, including Louis Vuitton handbags, sunglasses, and a Mercedes-Benz, as well as a penthouse valued at $3.7 million. The case highlights ongoing issues of internal fraud within the cryptocurrency sector, where employees exploit vulnerabilities to misappropriate funds.
