Friday, November 26

Investor is kidnapped and beaten to deliver cryptocurrencies

Hong Kong police arrested a group of seven people who kidnapped a cryptocurrency investor who was brutally beaten with criminals demanding a R$21 million ransom.

According to local news, the 39-year-old victim was about to sell cryptocurrencies to a stranger, the alleged buyer then took him to a nearby industrial building, where a group of men who appeared to be waiting for the victim began beating him with hammers and metal chairs.

The kidnapping took place on November 6, when the man was trying to sell Tether (USDT) for Hong Kong dollars.

The victim was forced to hand over his phone and passwords to his bank accounts and cryptocurrency wallets.


The next day, the victim was blindfolded and transported by car to a container terminal. The kidnappers continued to beat him, forcing him to lie to family and friends about being in debt to pay the ransom.

The victim’s family then reported the case to the police three days after the abduction. Police officers identified the potential location where the victim was being held and set up an ambush.

On Friday (12), the victim managed to escape, breaking a window when two men on guard came out to smoke. Police rescued him and stormed the scene, arresting two of the kidnappers.

The victim suffered multiple fractures to her arms and legs and is undergoing surgery to treat the wounds.

five more arrests were made on suspicion of connection with the abduction over the weekend. All of them, aged between 25 and 32 years.

Cases of kidnapping of cryptocurrency investors are on the rise, with several reported in the first half of this year. But this is the first known incident involving a kidnapping in Hong Kong.

Under Hong Kong law, anyone found guilty of detaining a person against their will to obtain ransom can face life imprisonment upon their conviction.

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