A Vietnamese courtroom has sentenced two individuals to life imprisonment for violent theft of cryptocurrency, The star reported Could 16.

Ho Ngoc Tai and Tran Ngoc Hoang had been discovered responsible of stealing cryptocurrency value 37 billion Vietnamese đồng ($1.5 million).

Fourteen different individuals had been sentenced to jail phrases starting from 9 to 19 years. Two of these individuals had been former cops, in response to the report.

The crime stems from a 2018 incident during which Tai took the recommendation of the sufferer, Le Duc Nguyen. Tai bought Bitcoin after Nguyen instructed he put money into different cryptocurrencies; Tai then misplaced cash on these investments.

Believing he had been tricked, Tai labored with 15 others to steal Nguyen’s cryptocurrency in a plot involving harassment, kidnapping, and threats of HIV an infection. Nyugen, his spouse and youngsters had been all focused within the scheme; Nyguen’s brother was additionally contacted however didn’t return any crypto.

These concerned within the crime should now pay 18.8 billion Vietnamese đồng to the sufferer. The stolen cryptocurrency was reportedly transformed into native forex as it isn’t a authorized type of fee in Vietnam.

Regardless of the shortage of authorized standing for cryptocurrency in Vietnam, the nation is among the many high crypto adopters on this planet. Chainalysis experiences in 2022 indicated that the nation ranked first on numerous measures, forward of the Philippines and Ukraine.

Submit-Vietnam courtroom sentences two males to life in jail for $1.5 million crypto theft which first appeared on forexcryptozone.