How Two Men Got Life Sentences in Vietnam for Committing a $1.5M Crypto Theft

How Two Men Got Life Sentences in Vietnam for Committing a $1.5M Crypto Theft



Life prison terms were imposed on the 34-year-old  Ho Ngoc Tai and the 40-year-old Tran Ngoc Hoang for planning a clever kidnapping and afterwards stealing $1.5 million in BTC from the victim.



In accordance with Vietnamese legislation, it is forbidden for people and enterprises to accept digital assets as money or a form of payment. However, the defendants were able to exchange the stolen BTC for VND18.8 billion, or almost $800,000.



The affair involved more than just Tai and Hoang. They were helped by 14 other people, who will also serve prison time. However, none of them will serve a life term; instead, their terms range from 9 to 19 years.



How did it happen?



The story began five years ago, as CryptoPotato reported, when Le Duc Nguyen urged Ho Ndoc Tai to sell 1,000 BTC (worth more than $4 million at the time) in


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#Bitcoin, #Cryptomarket, #Cryptonewstoday, #Scammer, #Vietnam

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