Crypto Poker Players Got Robbed Millions Worth of Assets in Singapore

Eleven people were robbed in Singapore of multiple items including cryptocurrencies and fiat. A new report from local sources shows that the suspect broke into a house in Bukit Timah and carted away with NT$4.34 million worth of assets. 

According to the report, over four men robbed the victims at a Residential unit in King Albert Park. The number of victims was 11 with ages ranging between 25 and 25. While the investigation continues, Police authorities have flagged two Malaysian suspects and extradited them to face charges. 

The victims were believed to have known each other and were having a party at the time of the incident. Among the victims were professional poker players with international rankings. 

Singapore, which is known for its good public security, has seen a robbery targeting cryptocurrency poker players. Eleven people were robbed, with one person being robbed of cryptocurrency worth up to 3.58 million Singapore dollars. Several suspects have been arrested in…

— Wu Blockchain (@WuBlockchain) May 3, 2024

About NT$ 215,300 was stolen alongside, crypto assets worth NT$354,923, two Rolex and a Richard Mille watch, and a Ferrari car key worth NT$ 400. 

“The charge shows that at about 2:05 a.m. on April 18, the two defendants and at least three others were suspected of robbing six victims of goods worth approximately $4,341,328 at the above-mentioned location, armed with parang knives and baseball bats. Property.” 

Investigation Intensifies as Gang Flee to Malaysia 

Per the report, the suspects left Singapore for Malaysia after the incident. The National Court issued an arrest warrant alongside other authorities leading to the arrest of two men in Malaysia. The two men were charged to court by authorities and remain in custody. 

The case was adjourned by the court to May 9 as investigation is said to continue on the matter. 

Singapore’s Crypto Regime 

Singapore has not been hostile to cryptocurrency firms with its regulator issuing new guidelines for stakeholders to protect investors. Last year, the Monetary Authority of Singapore (MAS) rolled out tighter rules amid the prevalence of crypto-related scams globally. 

The body explained the purpose of the rules was to reduce harm and protect retail customers in the country. 

Also Read: Ethereum ETFs: May Rejection Looms, Analysts Eye August Approval