Vietnam court sentences two men to life in prison over $1.5M crypto theft | Keyword Financial

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Vietnam court sentences two men to life in prison over $1.5M crypto theft

May. 16, 2023

By Mike Dalton

Fourteen other individuals involved in the plot received lesser sentences.

A Vietnamese court sentenced two individuals to life imprisonment over a violent cryptocurrency theft, The Star reported May 16.

Ho Ngoc Tai and Tran Ngoc Hoang were found guilty of stealing cryptocurrency worth 37 billion Vietnamese đồng ($1.5 million).

Fourteen other individuals received prison sentences ranging from nine to 19 years. Two of those individuals were former police officers, the report said.

The crime stemmed from an incident in 2018 in which Tai followed the advice of the victim, Le Duc Nguyen. Tai sold Bitcoin after Nguyen suggested he should invest in other cryptocurrencies; Tai then lost money on those investments.

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