YEREVAN (CoinChapter.com) — Hong Kong faces an increase in violent crypto crimes focusing on cryptocurrency homeowners. Just lately, two mainland Chinese language girls kidnapped a three-year-old boy from a shopping center in Tseung Kwan O on July 3. They demanded a ransom of US$660,000 in USDT, as reported by the Hong Kong Free Press. Subsequently, police raided the house the place the boy was held, arrested the suspects, and located the kid unhurt.
Kwan King-pan, Chief Superintendent of the Organised Crime and Triad Bureau, emphasised their capacity to hint cryptocurrency.
“Some criminals have mistakenly thought that cryptocurrencies are harder to trace, but I stress the force is capable and determined on bringing them to justice,”
he mentioned.
Crypto Commerce Lures and Violent Abductions in Hong Kong
This incident is a part of a broader pattern in Hong Kong and different areas. For instance, in March, a 19-year-old was lured to a lodge room in Hung Hom for a supposed cryptocurrency commerce. As an alternative, 9 people demanded his HK$180,000 crypto earnings and beat him with baseball bats when he resisted.
In one other case in Could, 4 males kidnapped a 55-year-old crypto investor in Sheung Shui. They stopped her automotive, attacked her husband with a stun gun, after which kidnapped her. After an hour, they launched her. The kidnapping was linked to a $1.9 million crypto funding dispute.
Crime Spree: US Conviction and Lethal Kidnappings within the Philippines
These crimes are usually not remoted to Hong Kong. Final month, a US courtroom convicted Remy St Felix, 24, for main a “robbery crew” focusing on cryptocurrency homeowners in violent dwelling invasions throughout 4 states. In accordance with the US Division of Justice, in April 2023, St Felix and an confederate assaulted a sufferer, zip-tied them, and threatened extra violence whereas different co-conspirators transferred over $150,000 in cryptocurrency from the sufferer’s account.
Within the Philippines, authorities have additionally reported crypto-related kidnappings. Final month, two Chinese language businessmen, Xia Kefu and Solar Jing, had been kidnapped. On June 21, their households obtained ransom calls for for US$2 million in USDT. Tragically, each males had been discovered useless close to Manila on June 27.
Police Warn: Crypto Crimes Can Be Traced and Recovered
Police remind the general public that whereas cryptocurrencies are digital, they aren’t proof against conventional crime. They stress their capacity to hint and recuperate stolen belongings.
These current instances spotlight the growing focus of regulation enforcement companies worldwide on monitoring and apprehending those that use cryptocurrency for prison actions.