FTX co-founder Sam Bankman-Fried (SBF) was dragged into the headlines after Zhang Rongxuan, a former captain in Singapore’s Naval Diving Unit, has been sentenced to six years and 10 months in prison for stealing crypto from a known associate.

The 35-year-old Zhang allegedly stole 1.7 million Tether ($USDT) from a friend’s cold wallet after sneaking into the victim’s apartment and photographing the device’s seed phrase. According to the accused, he needed the funds because of the heavy losses he took when FTX collapsed.

Former Singapore officer steals crypto

Zhang Rongxuan, 35, has pleaded guilty to charges including gaining illegal access and misuse of a computer system. The court heard that he stole approximately 1.7 million…