Theft is a common occurrence in the bitcoin and altcoin industry. In most cases, it is the work of hackers. The present case is exceptional from this point of view. Because the sanctioned theft is carried out against the backdrop of threats to harm the integrity of others.
Life for the aggravated theft of $1.5 million in bitcoins
In Vietnam, a court in Ho Chi Minh City has decided a case involving Ho Ngoc Tai and Tran Ngoc Hoang. These two natives of the country are sentenced to life imprisonment. The motive: their direct involvement in the theft of approximately $1.5 million worth of bitcoins.
The two men, aged 34 and 40 respectively, are thus punished for having been the instigators of the crime. Of course, their accomplices, 14 in all, including two ex-police officers, also received prison sentences of 9 to 19 years.
As we can see, the penalties imposed are very heavy. The first reason for this is that cryptos as a whole are banned in Vietnam. The second is related to the machination deployed to lead to the subtraction of assets. To understand it, we have to go back to the facts.
Back to the facts
This scandalous affair is rooted in an investment advice gone wrong. Indeed, 5 years earlier, Ho Ndoc Tai sold 1,000 BTC (approximately $4 million at the time). The operation, carried out on the advice of Le Duc Nguyen, a crypto investment adviser, had a purpose. It was about making a profit with a view to affording other cryptos. Goal that will not be achieved, because the investment turned out to be a bad move.
Faced with this disappointment, Tai found his solution: set up a gang to try to find Le Duc Nguyen. The operation is a success. Except for the detail that the investment adviser is kidnapped and sequestered.
At the same time, his brother is forced to return the initial 1000 BTC to Tai’s BTC wallet. And the police will not take long to understand what really happened, and to locate the responsibilities. We can therefore conclude that it is for proven facts of kidnapping and theft of bitcoins that all these beautiful people will stay in prison, for a long time. Fair verdict?
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