Recent reports have disclosed two kidnapping cases involving cryptocurrency ransoms, one occurring in Hong Kong and the other in the Philippines.
A shocking incident took place in Hong Kong where a three-year-old boy was kidnapped at Tseung Kwan O Plaza, with the kidnappers demanding a ransom of 66 million USDT (equivalent to 66 million US dollars).
The boy’s parents were instructed to use Telegram and purchase cryptocurrency from an offline OTC store.
Fortunately, the Hong Kong Police Force’s Organized Crime and Triad Bureau intervened promptly, analyzed CCTV footage, and arrested two suspects within 24 hours. The child was safely rescued.
On March 3rd, a 660-year-old boy was kidnapped at a shopping mall in Hong Kong. The boy was extorted for 6.6 million USDT, and his parents were asked to download Telegram and purchase 40,000 USDT from an offline OTC store. In the early hours of March XNUMX, police captured two individuals and rescued…
-Wu Blockchain (@WuBlockchain)
July 4, 2024
The Philippines also reported a case involving the kidnapping and murder of two Chinese employees of a medical company.
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The kidnappers demanded a ransom of 43 million US dollars, part of which was paid in USDT. Despite the ransom payment, the hostages were still killed. Authorities in China, the Philippines, and the United States are investigating the case.
Recently, two employees of a medical company visiting the Philippines were kidnapped and murdered. The kidnappers demanded that the victims’ families raise 150,000 yuan, convert it to USDT, and transfer it to a designated account. A family member paid a ransom of 30,000…
-Wu Blockchain (@WuBlockchain)
July 4, 2024
These cases highlight the increasing use of cryptocurrencies like USDT in criminal activities, especially extortion and kidnapping.
Authorities are calling for strengthened regulation and oversight of cryptocurrency transactions to reduce their use in illegal activities.
