A Singapore court has sentenced Zhang Xinghua, a 38-year-old Chinese national, to two years in prison for his role in a $6.9 million theft from the cryptocurrency exchange SafeX. Zhang was convicted of conspiracy to abuse a computer system and handling proceeds of crime. His accomplice, Chen Chong Xin, accessed SafeX's cryptocurrency vault without authorization three times between June and August 2025, transferring funds to various wallets. Zhang laundered over $1.6 million through Tornado Cash, potentially profiting $886,000 before being apprehended by police. Authorities have seized or frozen approximately $2.1 million in related assets, while $4.8 million remains in overseas wallets and platforms. The investigation into another suspect involved in the case is ongoing.
Singapore Sentences Man to Two Years for $6.9M SafeX Crypto Theft
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