In accordance with current reports, 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 12 months, Thuan, going through monetary difficulties, sought short-term 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 access to Trieu’s account, revealing that he possessed seven Bitcoin, equal to VND7 billion.
In accordance with the investigations, Thuan returned the borrowed bag however determined to steal the seven BTC by logging into Trieu’s pockets and transferring the entire amount 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 acquired no response. Consequently, Trieu reported the theft to the police.
Nguyen Thai Son intervened within the scenario, serving to Thuan evade seize by arranging a lodge room for him. Son then reached out to his buddy, 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. Nonetheless, Son and Dung squandered the proceeds, partly reinvesting in cryptocurrency, leading to financial 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 Could 21, throughout negotiations with Trieu over the stolen BTC, Thuan was apprehended by legislation 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 foreign money.
The HCMC courtroom delivered its verdict, sentencing Pham Van Thuan to 13 years in jail for “using computer networks, telecommunications networks, and electronic means to commit acts of property appropriation.”
Nguyen Thai Son acquired a sentence of eight years and 6 months for “consuming property obtained by someone else’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 good points of almost 3% over the seven few days.
Featured picture from Shutterstock, chart from TradingView.com
