Singaporean Bybit employee sentenced to 10 years for $4.2 million theft. Learn about the case and sentencing.
Ho Kai Xin, a 32-year-old manager of salaries and wages at Bybit, was sentenced to nearly 10 years in prison for stealing $4.2 million from the company. By manipulating Excel files and changing employees’ wallet addresses to his own, he stole over 4.2 million USDT from the exchange between May and August 2022. He converted it into cash to buy luxury goods and a $2.7 million penthouse. The misconduct was discovered in September 2022 by the finance manager of Wechain after noticing unusual transactions, leading to his arrest in April 2023.
