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Receive all Bitcoinist news in Telegram! The rise of cryptocurrency has brought many opportunities for investment, but such wealth potential has also attracted criminals. The Singaporean police force has recently announced a robbery case involving a Bitcoin transaction. Pang Joon Hau, a Malaysian man, traveled to Singapore on April 8th in search of Bitcoin sellers.
Once it was ascertained that Pang was carrying hundreds of thousands of dollars worth of cash without any sort of security protection, the criminals then assaulted Pang and his broker. 278,000 USD Pang had brought with him. Pang Joon Hau quickly filed a report after the robbery, which allowed the police to glean more information about the suspected criminals. Singaporean police announced last Thursday that they had captured the two criminals. Singaporean district, Sentosa, and was charged with robbery by the police. 60,000 USD on a luxurious shopping spree, with some reporting that he spent some of the money on luxury watches.
Due to the Bitcoin robbery involving an intent to hurt, he could be put in jail for a minimum of 5 years, a lengthy sentence to say the least. 10,000 Singaporean dollar share of the stolen amount as he attempted to evade capture by police forces. Could the Buyer Also Be in the Wrong? Commander of Central Police Division Assistant Commissioner, mentioned that it was not normal for such transactions to be arranged that featured a large amount of physical cash to be exchanged for Bitcoin.
The police are currently investigating the source of the funds carried by Pang. It is gratifying to see that the criminals were apprehended. The Police will not condone anyone committing such serious offenses and profiting from the proceeds of the crime. We will spare no efforts in pursuing such criminals and deal with them in accordance with the law. As always, one should always exercise extreme caution when buying bitcoins in person. The possibility of being robbed is always there, so it’s best to remain cautious and stay vigilant.
Why do you think about this Bitcoin robbery? Would you carry such a large sum of money to a meeting with people you do not know? Please let us know in the comments below. The team states that the planned network upgrade is underway and that the majority of the components needed for it are already prepared. A hard fork is seemingly underway for the Bitcoin Gold network as announced in an official update dated June 4th.
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But imagine trying to keep an entire MLB field green. CBS Local — How much would you put at risk to invest in the hottest digital currency in the world? For some people, the skyrocketing value of Bitcoin is worth putting their own homes at stake. According to reports, a number of investors looking to cash in on the soaring prices have resorted to putting their houses up as collateral to fund the venture. We’ve seen mortgages being taken out to buy bitcoin.