A 19-year-old Singaporean crypto trader was forced to abandon an in-person attempt to convert S$32,000 ($24,000) into tether (USDT) when he was ambushed by two men who punched him in the face and chased him through a nearby mall.

Mothership reports that the teenager, known only as ‘ZK,’ was attacked by the men after meeting the crypto seller in a car park on August 29.

As the deal was going down, ZK claimed that the men, looking like “regular pedestrians,” passed by before one of them punched him across his left cheek.

Afraid that the men were trying to steal his cash, ZK says he bolted to the nearest mall and shouted for help. They allegedly chased after him, but ZK says he managed to outrun them and report the incident to police.

ZK claims the attack left him swollen and bruised. Image sourced from Mothership that shows ZK and the car park.

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The deal had been arranged via Telegram with ZK explaining that, though he had never dealt with the seller before, he decided to go ahead because he needed tether, and the seller was the only one who reached out to him.

He also said he wanted to buy the USDT in person as it saved him trading fees. “It’s not reasonable to lose out on the fees and everything with my trading frequency,” he explained.

The pair originally agreed to meet in a public mall where ZK would hand over the cash in exchange for the seller sending the USDT straight to his wallet. However, the dealer changed the location to a nearby car park at the last minute.

The Singapore Police Force reportedly arrested two men, aged 20 and 21, on suspicion of attempted robbery.