Law enforcement arrested seven people involved in the kidnapping of an altcoin trader, according to Hong Kong local media reports. According to the authorities, more people linked to the crime could be arrested during the investigation. Here are the details…
Altcoin trader jailed for 3 days!
The kidnapping took place on 6 November. After a 39-year-old man tried to exchange Tether (USDT) for Hong Kong dollars, he was brutally attacked at an industrial building where he was supposed to meet with potential buyers. The kidnappers beat the victim with metal chairs and hammers, forcing them to allow them access to their cryptocurrencies. The trader was then blindfolded and transported to a remote village where he had to endure further physical abuse. The victim’s family filed a complaint with the police on November 9, and authorities were able to successfully locate the victim’s whereabouts. The kidnappers were demanding a $30 million ransom. However, the two guards at the head of the pawn trader managed to escape from the attic of the hut where he was imprisoned, while he was temporarily not on alert…
After being later rescued by the police, the man is currently receiving treatment at the hospital for serious bodily injuries. Last month, two men were arrested in Russia’s Kaliningrad region after kidnapping a 28-year-old crypto investor, forcing him to transfer his crypto, injecting the victim with drugs, and dumping the nearly dead body in the forest. The man managed to regain consciousness, and then filed a complaint with the police in the nearest town. In July, Hong Kong police shut down a massive money laundering network that relies on the Tether stablecoin to run its operations.
