A 19-year-old man in Singapore, identified only as ZX, was allegedly attacked while attempting to purchase cryptocurrency offline. The incident occurred on the evening of August 29 at Block 567A Hougang Street 51. ZX was waiting for the seller to finish his cigarette when two men approached and one of them punched ZX on the left cheek. Fearing for the S$32,000 cash he had brought for the transaction, ZX fled towards Hougang Green Shopping Mall, with the two men in pursuit. He managed to evade them by crossing the road and returning home.
## Background
ZX had initially connected with the seller via Telegram on August 28. The seller responded to ZX’s message expressing interest in buying Tether (USDT), a stablecoin. Despite never having dealt with the seller before, ZX decided to proceed with the transaction due to his urgent need for Tether and the lack of other offers.
## Why trade crypto offline?
ZX explained that he opted for an offline transaction to save on fees, which can range from 1 to 2 per cent of the total price for each trade. “It’s not reasonable to lose out on the fees and everything with my trading frequency,” he told Fathership. The plan was for the seller to transfer USDT to ZX’s crypto wallet once the cash was handed over in person.
## The meet-up
The parties agreed to meet at Hougang Green Shopping Mall at 5 pm on August 29. However, upon arrival, the seller informed ZX that he was waiting at a nearby car park instead. ZX reluctantly agreed and withdrew some money before heading to the car park. The seller then suggested trading inside the car park, citing police patrols outside. ZX insisted on trading in the mall, but the seller asked him to wait until he finished his cigarette.
## Two men approached ZX ‘like regular pedestrians’
While waiting, ZX noticed two men approaching him “like regular pedestrians.” Despite being on guard, one of the men managed to punch ZX and reach for his clutch containing the cash. ZX ran towards the mall, hoping the men would not follow, but they continued to chase him. He eventually shook them off by crossing the road and heading home.
## ZX lodged police report
During his escape, ZX shouted “Robbery!” in hopes of attracting help, but to no avail. After securing his cash at home, he immediately lodged a police report at a nearby station. ZX sustained a swollen and bruised left cheek from the punch.
## Men arrested
In response to Fathership’s queries, the Singapore Police Force (SPF) confirmed that a police report was filed. Two men, aged 20 and 21, have been arrested for attempted robbery. Police investigations are ongoing.
