Former Singaporean naval diver gets nearly 7 years for $1.7M crypto theft

Zhang Rongxuan, a former special diver in the Singaporean navy, has been sentenced to six years and 10 months in prison for stealing approximately 1.7 million USDT from a friend's cold wallet by secretly photographing its seed phrase. According to local reports, Zhang obtained an apartment access card at a social gathering and entered the victim's home while it was empty to take the picture. He then used the stolen funds to purchase luxury watches, gamble, and pay off a mortgage. Zhang pleaded guilty to multiple charges, including computer misuse and money laundering, with the court noting that sufficient restitution had not been made.