Three Individuals Jailed for Bitcoin Theft in Vietnam
Recently, three individuals in Ho Chi Minh City (HCMC), Vietnam, were sentenced to prison for their involvement in a Bitcoin theft case. Pham Van Thuan, Nguyen Thai Son, and Nguyen Cong Dung were convicted of stealing seven Bitcoin worth approximately $287,500 from a man named Trieu.
The Story Behind the Theft
In 2018, Pham Van Thuan and Nguyen Thai Son became friends with Trieu. The following year, Thuan faced financial difficulties and stayed at Trieu’s place in HCMC. During his stay, Thuan borrowed a laptop bag from Trieu and discovered a note containing a Trust Wallet recovery phrase. This gave him unauthorized access to Trieu’s account, where he found seven Bitcoin valued at VND7 billion.
Thuan returned the bag but decided to steal the seven Bitcoin by transferring them to his own account. He then left Trieu’s residence without a trace. Trieu reported the theft to the police when he failed to reach Thuan.
Involvement of Nguyen Thai Son and Nguyen Cong Dung
Nguyen Thai Son helped Thuan evade capture by arranging a hotel room for him. Son also contacted his friend, Nguyen Cong Dung, for assistance. They agreed that Thuan would share 4.3 Bitcoin with them. Son converted 1.8 Bitcoin into Tether’s USDT and sold it for over VND775 million. However, they ended up losing the money through investments in cryptocurrency.
Culprits Face Convictions
Thuan fled to Son’s hometown but was apprehended during negotiations with Trieu regarding the stolen Bitcoin. In Vietnam, where virtual currencies are not recognized as legal tender, the defendants were held accountable for the converted amount in Vietnamese currency.
The HCMC court sentenced Pham Van Thuan to 13 years in prison for using computer networks and electronic means to commit property appropriation. Nguyen Thai Son received a sentence of eight years and six months for consuming property obtained through someone else’s crime, while Nguyen Cong Dung was sentenced to 10 years in prison.
Hot Take: Bitcoin Price Update
The price of Bitcoin (BTC) is currently range-bound between $36,900 and $37,400 with minimal volatility over the past 24 hours. However, it has recorded gains of nearly 3% over the past week.
Source: VNExpress
Image source: Shutterstock
Chart source: TradingView.com
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