Hong Kong’s Court of Appeal has rejected a bid by Ma Zhihao to reduce his sentence, leaving in place a 56-month prison term in a telecom fraud and human trafficking case. Investigators traced criminal proceeds through blockchain and cryptocurrency transaction records, which the court treated as key evidence in showing how ransom and illicit funds moved.
According to the case details cited in the report, a victim’s family paid about 9,527 USDT to a wallet designated by the criminals. Blockchain tracing showed that 8,127 USDT from that payment flowed into an exchange account registered under Ma Zhihao’s real name and Hong Kong ID. The funds were then converted into about HK$63,000 and transferred to his personal HSBC bank account.
The appellate court said the sentence could have been much heavier if not for the District Court’s seven-year statutory cap. The report was cited by Odaily, referencing Caixin.
Hong Kong’s Court of Appeal on Thursday rejected Ma Zhihao’s request for a reduced sentence, keeping in place the original 56-month prison term in a telecom fraud and human trafficking case.
During the investigation, Hong Kong police tracked criminal funds through blockchain data and cryptocurrency transaction records. The fund trail was treated as key evidence in identifying Ma’s role in receiving ransom payments and crime proceeds.
According to the case details, a victim’s family sent about 9,527 Tether (USDT) to a cryptocurrency wallet designated by the criminals. Blockchain tracing records showed that 8,127 USDT from that amount moved into an exchange account registered under Ma’s real name and Hong Kong identity card. The funds were later converted into about HK$63,000 and transferred to his personal HSBC account, forming an important part of the evidence that he took part in the crime and obtained proceeds from it.
The Court of Appeal said that, if not for the District Court’s seven-year sentencing cap, the defendant would have faced a much heavier punishment, according to Caixin as cited by Odaily.
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