A Singaporean court has sentenced 32-year-old Ho Kai Xin, a former payroll manager at WeChain Fintech, to nine years and 11 months in prison for embezzling $5.7 million from the crypto exchange Bybit.
Between May and August 2022, Ho exploited her position by entering false salary records, transferring company funds to her personal crypto wallets. She spent the stolen money on a luxurious lifestyle, including purchasing a $3.7 million penthouse and a Mercedes-Benz.
Bybit managed to recover part of the funds: $1.1 million in cryptocurrency and $140,000 from bank accounts. However, a significant portion of the stolen money remains unrecovered.
