Singapore Bitcoin broker jailed for $267,000 theft; three-year sentence and 12 strokes of the cane

In Singapore, a court handed down a sentence in the case of the 29-year-old cryptocurrency broker Yaromela Ji Ming Li. Li was charged in connection with the theft of $267,000, according to The Strait Times.

Ming Li met two accomplices while working as a Bitcoin broker. In April 2018, they learned that a Malaysian national had arrived in Singapore to buy BTC worth 365,000 Singapore dollars (about $267,000).

The broker instructed his accomplices to rob the investor. They attacked the man in a hotel room, beat him and took a bag containing cash.

At the trial Ming Li pleaded guilty to one count — conspiracy. He was sentenced to three years’ imprisonment and 12 strokes of the cane.

The case of the second participant is ongoing. His ex-wife admitted receiving and misappropriating the stolen funds. The third offender confessed to the robbery.

Back in August, an Australian court sentenced the hacker to a prison term for stealing 100,000 XPR. In January 2018, she and a partner hacked the email of a person with the same surname and siphoned assets that were transferred to one of the Chinese cryptocurrency exchanges.

Earlier, two Canadian citizens were sentenced to 24 months in prison. Posing as support staff for the HitBTC exchange, they stole 23.2 BTC from a user.

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