Three Individuals Convicted of bitcoin Theft in Vietnam

According to a report by, three individuals have been sentenced for their involvement in a bitcoin (BTC) theft case in Ho Chi Minh City (HCMC), Vietnam.

The Case of 7 Bitcoins Worth $287,000

Pham Van Thuan, Nguyen Thai Son, and Nguyen Cong Dung were found guilty of stealing seven bitcoin valued at VND7 billion (approximately $287,500) from a man named Trieu.

From Borrowed Bag To Stolen bitcoin

Pham Van Thuan and Nguyen Thai Son befriended Trieu in 2018 and Thuan, who was dealing with financial difficulties in 2019, stayed at Trieu’s residence in District 6 of HCMC. During his stay, Thuan discovered a Trust Wallet recovery phrase in a laptop bag Trieu had lent him. This gave Thuan unauthorized access to Trieu’s account, revealing that he had seven bitcoin.

He then decided to transfer the entire amount to his account and vacated Trieu’s place shortly after the theft. Trieu reported the theft to the police.

Nguyen Thai Son assisted Thuan in evading capture by providing a hotel room and seeking help from Nguyen Cong Dung in Hanoi.

The trio agreed that Thuan would share the stolen bitcoin with Son and Dung and tried to convert 1.8 bitcoin into Tether’s USDT, resulting in financial losses.

Crypto Heist Ends In Convictions

Thuan fled to Son’s hometown, but was apprehended during negotiations with Trieu over the stolen BTC. The court sentenced Thuan to 13 years in prison, Son to eight years and six months, and Dung to 10 years in prison.

Current Status of bitcoin

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bitcoin remains range-bound, fluctuating within the price range of $36,900 to $37,400. The cryptocurrency has experienced minimal price volatility but has recorded gains of nearly 3% over the past seven days.

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