Singaporean Man Sentenced for Assisting in Crypto Asset Laundering

A Singaporean man has been sentenced to two years in prison for aiding a former colleague in the illegal transfer and laundering of approximately 8.83 million Singapore dollars in crypto assets. According to ChainCatcher, the incident involved three former employees who, after leaving the company due to a dispute, accessed the SafeX account of their previous employer, DLT Ltd, and transferred funds in three separate transactions between June and August 2025. The individuals involved used the account of one of their wives to receive the funds, which were then converted multiple times into Bitcoin and the stablecoin USDT. The assets were subsequently distributed across various wallets to obscure their trail, with some of the funds being cashed out for personal expenses. One suspect remains at large.