cryptd.in

另类 LinkedIn 适合加密人才

Payroll Fraud at Bybit: Employee Siphoned $5.7M Using Fake Transactions (Report)

-

由

cryptd.in
于

Ho Kai Xin, a former payroll processing staff member at WeChain Fintech Singapore, has been sentenced to nine years and 11 months in jail for embezzling over $5.7 million.

WeChain Fintech Singapore, which was contracted to manage payroll for Bybit Fintech, employed Ho as a payroll processing staff member. Ho, who was responsible for processing salaries for approximately 900 ByBit employees, exploited her position by manipulating Microsoft Excel files to divert company funds into her own accounts.

Bybit Payroll Scandal

According to a report from ‘The Straits Times,’ her fraudulent activities began in May 2022 when she altered payroll data to reflect unauthorized payments. She initially stole over $117,000 from WeChain. Encouraged by the absence of detection, she escalated her scheme and ended up misappropriating vast amounts of cryptocurrency directly from Bybit’s electronic wallet.

In fact, between May and August 2022, she transferred over 4.2 million USDT into four personal wallets. To facilitate the theft, she inserted fraudulent payment entries into payroll documents and listed her own wallet addresses next to employee names to deceive Bybit into authorizing the transactions.

Despite being under investigation and facing legal action from the exchange, Ho continued to lead an extravagant lifestyle. She placed a down payment of nearly $750,000 for a penthouse worth over $3.7 million on Gilstead Road.

She also splurged on high-end items, spending close to $30,000 on Louis Vuitton products, including sunglasses, bags, shoes, shirts, and rings. Additionally, she purchased a Mercedes-Benz valued at $420,000. Police later seized over $330,000 worth of her assets, but a significant portion of the stolen funds remains unaccounted for.

In February 2023, a WeChain representative reported Ho’s fraudulent activities to the authorities, which led to her arrest two months later. When questioned by police, she attempted to mislead investigators by falsely claiming that an individual named “Jason Teo,” whom she described as a cousin, was responsible for the unauthorized transactions. However, no such person was found to exist.

Luxury and Lies

Ho pleaded guilty to multiple charges, including cheating, dealing with criminal conduct, and providing false information to public servants. In addition to her nearly decade-long sentence, she was handed a six-week jail term in January 2024 for contempt of court after defying an order prohibiting her from spending her misappropriated funds. Despite court orders, she continued to use the stolen money, spending close to $840,000 on luxury goods.

Bybit has managed to recover approximately 1.1 million USDT from her electronic wallets and an additional $140,000 from one of her bank accounts. However, Ho has made no effort to return the outstanding amount.

职位 Payroll Fraud at Bybit: Employee Siphoned $5.7M Using Fake Transactions (Report) 首次出现在 加密土豆.

评论

发表回复

您的邮箱地址不会被公开。 必填项已用 * 标注

最新信息

热门类别

zh_CN 简体中文
zh_CN 简体中文 en_US English ro_RO Română et Eesti ko_KR 한국어 ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

搜索网站

热门故事

标签

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #Bitcoin (241) #BitcoinETF (3) #itcoinFundamentals (1) # 比特币处理 (1) # 比特币价格 (5) # 比特币价格水平 (1) #BitcoinPump (1) #BitcoinReserve (1) #BitcoinSurge (1) #itcoinTop (1) #Bitfinex (1) #Bitwise (1) #BracebridgeCapital (1) #BRC20Tokens (1) #BTC 收购 (1) 1TP5 看涨预测 (1) #BullishSentiment (1) #C 中国矿业 (1) #CPIPreview (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (2) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (33) #ogecoinGains (1) #ogecoinVolume (1) #DutchCourt (2) #ECommerce (1) #El萨尔瓦多比特币 (1) #E以太坊 (49) #EthereumPain (1) #E以太坊价格 (1) #ExpertOpinion (1) #FedRateCut (1) #FiatCurrency (1) #F 财务影响 (1) #F 财务隐私 (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #InflationData (1) #Investment (1) #InvestmentLoss (1) #JapaneseFirm (1) #L LegalAction (1) #L 法律影响 (1) #Legislation (1) #LightningNetwork (1) #M 市场分析 (3) #M 市场监测 (1) #M 市场预测 (1) #M 市场预测 (1) #M 市场投影 (1) #M 市场支持 (1) #M 市场波动性 (1) #M 婚姻 (1) #MemeCoin (3) #MemeCoins (2) #Miner 盈利能力 (1) #M 洗钱 (2) #MtGox (3) #朝鲜加密货币 (1) #诺沃格拉茨预测 (1) 1TP5价格里程碑 (1) #P 价格预测 (2) 1TP5价格问题 (1) #PriceSurge (1) #PrisonSentence (1) # 量化分析 (1) #R 监管压力 (1) #SECA Anti-Crypto (1) #ShibaInu (3) #SocialBuzz (1) #T 技术分析 (1) #Toncoin (3) #T 龙卷风现金 (3) #T 龙卷风现金发展项目 (1) #T 龙卷风现金开发者 (1) #UKCrypto (1) #UpsidePotential (1) #USCongress (1) #WyomingLand (1) #XRPPrice (1) #XRPupswing (1)

实用链接

我发现了一些有用的链接，希望与大家分享。