SINGAPORE – A man was arrested for allegedly stealing cash amounting to $50,000 from a victim during a meeting to purchase cryptocurrency late at night on June 21.
According to the police, who were alerted to a case of theft in New Upper Changi Road at 11.55pm that day, the victim had arranged to meet the suspect to purchase USDT cryptocurrency amounting to $100,000.
While preparing to hand the money over to the suspect, the victim had placed a portion of the cash on a bench, the police said in a statement on June 23.
The 25-year-old suspect then allegedly grabbed $50,000 worth of the cash placed on the bench and fled the scene.
Police officers arrested the suspect after establishing his identity with footage from police cameras and CCTVs, and recovered cash amounting to $7,450.
The suspect is expected to be charged with the offence of theft on June 24. If found guilty, he can be jailed for up to three years, fined, or both.