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ah the world of cryptocurrency
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fast-paced exciting and sometimes
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downright wild meet H Kai jeene a
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payroll manager at biit a global
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cryptocurrency exchange she was in
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charge of processing the paychecks for
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around 900 employees sounds like a solid
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honest gig right well let's just say
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this story's got a Twist in May 2022 ho
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thought what if I could just tweak a few
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things on these Peril spreadsheets and
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so she began a little magic with Excel
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and poof the money was flowing directly
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into her personal cryptocurrency wallets
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we're talking a whopping $4.2 million in
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tether yes that's right tether crypto's
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favorite stable coin funneling into her
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Pockets no big deal right and what did
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Ho do with her shiny new crypto Fortune
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well she didn't spend it on savings
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accounts or investment opportunities oh
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no ho went full luxury mode bags shoes
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watches if it was expensive it was in
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her shopping cart and let's not forget
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her new Penthouse because why wouldn't
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$750,000 on a deposit for a $3.7 million
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Place clearly she was living the dream
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on Stolen cash but here's the thing
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about dreams they don't last forever
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eventually someone noticed after all
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it's kind of hard to cover up a
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multi-million dollar Heist when it
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involves payroll records in September
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2022 a suspicious colleague gave the
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heads up to local authorities it wasn't
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long before the police were knocking on
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Ho's door by February 2023 ho was in
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cuffs and that's when the wheels of
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Justice began to turn fast forward to
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January 2025 H first stint in court
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didn't go well she was sentenced to 6
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weeks in prison for contempt of court
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after she kept spending the stolen money
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yep you heard that right even when the
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court told her to stop she just couldn't
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resist and then in February 2025 she
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received her real sentence nearly 10
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years behind bars for charges like fraud
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money laundering and providing false
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information to a public servant her time
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in The Slammer starts once she finishes
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serving her contempt sentence talk about
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bad timing but it wasn't all bad news
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for bit authorities were able to track
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down and recover a bit of the loot
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around $1.1 Million worth of tether from
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her wallets and a cool
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$140,000 from one of her bank accounts
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oh and they also snagged over 300
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$130,000 worth of luxury items including
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wait for it a mercedesbenz so while Ho's
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new Benz may have been flashy at least
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it didn't stay in her hands for long but
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the big question remains what happened
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to the rest of the stolen funds the
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authorities are still tracking them down
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but as of now a large chunk of it is
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unaccounted for and ho hasn't made any
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moves to repay the remaining balance
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classic so what can we learn from Ho's
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colorful choices first off off this case
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highlights the critical need for strong
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internal controls in financial
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institutions especially in the
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cryptocurrency world when you're
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handling digital assets you've got to
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stay on top of security no exceptions
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this incident underscores the need for
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continuous vigilance and robust security
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protocols with cryptocurrencies rise
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ensuring that your systems can detect
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and prevent fraud is more important than
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ever it's a wake-up call to everyone in
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the crypto sector if you're not
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safeguarding your assets you're opening
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the door for hokai genan style
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Shenanigans shout out to bit's legal and
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compliance teams who work tirelessly to
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recover some of the stolen funds and
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hold ho accountable it's a reminder that
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transparency and diligence can make a
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huge difference in cases like this and
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let's not forget Justice may take time
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but it eventually catches up with you so
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whether you're managing a multi-billion
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dollar exchange or just