Machete-wielding gang jailed up to 13 years for S$4.9 million crypto poker robbery in Singapore

Six Malaysian men have been sentenced to up to 12 years and 11 months in prison, with caning, after a masked, machete-armed gang stormed a Singapore poker game in April 2024, restrained 11 people and stole S$4.9 million (US$3.9 million) in crypto, cash and luxury watches. A seventh suspect remains at large in Thailand.

Crypto poker heist left S$3.21 million unrecovered

The full scale of the Crypto poker heist emerged during court proceedings, with prosecutors putting the total value of the stolen property at approximately S$4.9 million.

That figure was higher than the initial estimate released by Singapore police. Authorities had initially valued the cash, cryptocurrency and luxury watches stolen from the victims at about S$4.34 million.

Prosecutors later told the court that investigators had recovered approximately S$1.69 million, leaving close to S$3.21 million unrecovered.

Cryptocurrency represented the largest portion of the stolen property. Prosecutors said approximately S$3.6 million in digital assets was taken from the hostess of the poker game.

The attackers also stole S$210,000 in Singapore currency, approximately US$40,000 in cash, S$55,500 worth of Emirati dirham and a Patek Philippe watch valued at more than S$500,000.

Other victims reported losing Rolex watches, a Richard Mille watch, cash and other personal belongings.

Court proceedings also revealed the movement of USDT following the robbery. Wong transferred approximately 1.1 million USDT to Goh in Kuala Lumpur. Goh subsequently helped authorities recover around 800,000 USDT from the amount transferred to him.

The case demonstrates one of the unusual features of digital-asset crime: once cryptocurrency has been transferred, investigators can potentially follow transactions on public blockchains, although identifying the people controlling particular wallets can remain difficult.

Attackers studied poker games before the robbery

The Crypto poker heist was planned months before the attackers entered the property, according to evidence presented in court.

Wong and Goh reportedly learned in November 2023 that high-stakes poker games were being held at the King Albert Park residence. The games involved large sums, with individual stakes sometimes reaching several hundred thousand Singapore dollars.

The pair also discovered that some poker transactions were settled using cryptocurrency.

After visiting the property, they observed its security arrangements and noticed that the gate and wooden door could remain unlocked while games were taking place.

Wong subsequently proposed robbing the residence. He and Goh recruited Mohd Hamidon Ahmed, who was tasked with finding additional participants for the operation.

Hamidon was promised RM1.5 million, which was then worth about S$467,000, to be shared among his group.

On April 17, Wong and Goh confirmed that a poker game was taking place. Shortly after 2 a.m. the following morning, seven masked men entered the residence.

Three attackers carried machetes, while two others were armed with baseball bats.

The occupants were restrained, their mouths were taped and their mobile phones were searched. The attackers were specifically looking for cryptocurrency applications and evidence of digital-asset holdings.

After discovering significant cryptocurrency balances on the hostess’ phone, Wong and Goh directed transfers into a wallet they controlled.

The group also emptied cash from a safe and searched bedrooms for watches and other valuables.

Crypto poker heist adds to growing wrench-attack threat

The Singapore case comes as cryptocurrency security researchers warn about an increase in physical attacks targeting digital-asset holders.

The Crypto poker heist fits the broader category of attacks commonly known as “wrench attacks.” Instead of exploiting software or blockchain infrastructure, criminals use threats, violence, kidnapping or other forms of physical coercion to obtain cryptocurrency.

Chainalysis reported in August 2026 that more than $30 million had been successfully stolen through violent crypto attacks worldwide during the first half of the year. Its dataset recorded 46 known incidents through late June, with home invasions accounting for 37% of documented cases.

The blockchain-analysis firm also warned that publicly documented incidents are likely to represent only part of the overall problem.

CertiK separately identified 52 verified wrench attacks during the first six months of 2026 and estimated total financial exposure at $124.1 million. Its figure included stolen assets, ransom demands, frozen funds and other financial exposure associated with documented incidents, rather than representing confirmed criminal proceeds alone.

These cases demonstrate how cryptocurrency’s portability can become a security vulnerability. A large amount of value can potentially be controlled through a smartphone or hardware wallet, meaning criminals may target the individual rather than attempting to breach the underlying technology.

Six jailed as seventh suspect remains at large

The Crypto poker heist resulted in prison sentences for six Malaysian men, but one alleged participant remains outside the reach of Singapore authorities.

Wong and Goh received the most severe sentences because prosecutors considered them the principal organizers. The court heard that they selected the target, planned the robbery, recruited participants and arranged the distribution of the proceeds.

Hamidon, 49, was sentenced to 10 years and six months in prison and 24 strokes of the cane.

Kartik Palaniappan, 34, and Muhammad Tauffiq Ahmad Fauzi, 34, each received seven years and eight months in prison and 24 strokes.

Mohd Hashim Ismail, 51, was sentenced to eight years and eight months in prison. He was not caned because of his age.

Defense lawyers argued that some of the recruited men played lesser roles and received substantially smaller portions of the proceeds.

Justice Aidan Xu described the robbery as “audacious and well-planned” and said the crime had disrupted the peace and security of the community.

The seventh suspect, Muhammad Yusuf Kassim, 33, remains at large. Court records indicated that he was believed to have traveled from Malaysia to Thailand.

The Crypto poker heist therefore leaves two unresolved questions: how much of the missing cryptocurrency and valuables can ultimately be recovered, and whether Yusuf will eventually face prosecution.

For the broader digital-asset industry, the case also underscores a changing threat landscape. Cryptocurrency security is no longer solely about protecting private keys against hackers. For high-value holders, preventing criminals from identifying their wealth and physically coercing them may be just as important.