Can you imagine traveling to a different country solely with the purpose of buying somETHing? That’s what a man from Malaysia just did – and it went horribly wrong. It might have been better if the man was going to Singapore for a shopping spree, but he wasn’t. The man went to Singapore with the intention of purchasing a wad of Bitcoin (available on Coinbase)s, and instead, he found himself at the center of the latest Bitcoin (available on Coinbase) scandal.

Here’s what happened.

The Latest Bitcoin (available on Coinbase) Scandal

On Thursday, reports surfaced from various local mediums which stated that two men were arrested in Singapore. The charges? Being the masterminds behind the latest Bitcoin (available on Coinbase) scandal. That is if you consider what the two men did to be a “scandal”.

According to the reports, Mr. Pang Joon Hau flew from Malaysia to Singapore solely to purchase Bitcoin (available on Coinbase)s. Not only that, Mr. Pang flew to Singapore expressly to purchase Bitcoin (available on Coinbase)s with cash. $365,000 to be exact. Mr. Pang, who was assaulted along with his broker, had set plans to meet with two Bitcoin (available on Coinbase) brokers. He was scheduled to meet them at his hotel on Sunday, April 8, 2018.

Things didn’t go as planned. Both men are said to have assaulted Mr. Pang and fled with the cash – all $365,000. As unfortunate as this incident may be, one cannot help but think of how uncommon it is for people to transact the digital currency in person. It is for these reasons the police in Singapore have decided to launch an investigation into Mr. Poon. According to various reports, the Singaporean police will be focusing on why Mr. Poon came to Singapore (aside from the purchasing of the currency) and where Mr. Pang obtained this kind of cash in the first place.

The Cryptocurrency Sector: Have There Been Anymore Bitcoin (available on Coinbase) Scandals?

Singapore has been reasonably vocal when it comes to the cryptocurrency sector. It is one of the many countries to have called for more regulation on digital currencies, with Singapore making the call on February 6, 2018.