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Fraudulent bitcoin sale used to dupe Malaysian man out of $350,000

Fraudulent bitcoin sale used to dupe Malaysian man out of $350,000
  • An accomplice in a $365,000 robbery, has pleaded guilty in a district court to a robbery charge earlier this week on the in a theft case relating to bitcoin.
  • Along with Jaromel Gee Ming Li and Mohd Abdul Rahman Mohamad, the trio stole hundreds of thousands of dollars in cash from a Malaysian individual in Singapore.

An accomplice in a $365,000 robbery, Syed Mokhtar Syed Yusope has pleaded guilty in a district court to a robbery charge earlier this week on the 9th of September in a high-profile theft case relating to bitcoin trading.

Along with Jaromel Gee Ming Li and Mohd Abdul Rahman Mohamad, the trio stole hundreds of thousands of dollars in cash from a Malaysian individual in Singapore.

In order to do this, they pretended to represent a bitcoin broker with the three tricking the victim into believing that they wanted to sell him bitcoin for cash. In the end, the Malaysian individual was assaulted by the criminals and they ran off with a backpack full of $365,000.

It didn’t take long for Mokhtar and Abdul to be arrested by the authorities in Singapore but interestingly enough, this occurred over two years ago. But according to a local news outlet, this is a case that is still ongoing with the man now out on a $30,000 bail and will be sentenced this week. Court documents have allegedly said nothing in regards to whether the stolen money has been recovered or not.

Cryptocurrency fraud is a thing that occurs all the time in the crypto space. Unless mainstream adoption is to be achieved, situations such as these need to be dealt with.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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