Hong Kong Crypto Trader Kidnapped

Un recently, a Hong Kong crypto trader was kidnapped after he agree to directly sell crypto at Kowloon Bay in Hong Kong.

November 6, 2021, On November 6, 2021, a Crypto trader, a 39-year-old Hong Kong citizen kidnapped, hostage, and held as a ransom. And he agree to meet a Tether buyer in Kowloon Bay in Hong Kong. He force to enter an industrial building. And then physically attacked and forced to give his password and smartphone to a trading platform. This clearly done with great care so that the suspect not suspicious.

For almost a week, he held in Tai Po, northern Hong Kong. As ransom, his captors demanded HK$30million from his family. His family reached out to the authorities on November 9, 2021. The victim’s family contacted the authorities and police stormed her home. As officers approached, the victim managed to get out through the window.

The victim sustained physical injuries from her captors, and had to hospital for a broken leg. The kidnapping the police arrested seven people in a case. They are still looking for the other. They are all suspect members of Sun Yee On’s organize crime syndicate.

Alan Chung, Western Regional Crime Unit, stated that they are investigating whether the victim was robb after he handed over his trading and banking passwords. According to a source, the victim’s crypto holdings are worth more than HK$20million. Hong Kong authorities advised investors to be cautious and only trade cryptocurrency on licensed platforms.

BeinCrypto reported a comparable incident in January 2021 when a woman lost HK$3.5million in P2P transactions. Criminals who hope to exchange USDT with Hong Kong dollars into the lure of the office.

He was sending USDT through his smartphone. However, three additional men ran into the room when he got the cash. They took his phone, tied him to a chair and fled with the money.

Short about Hong Kong Crypto Trader

A gang stole HK$3,000,000 from a man in his thirties on January 4, 2021. After he sent the cryptocurrency, the robbers kicked him out the car. They first take the cash and then they hand it over.

According to South China Morning Post, one victim suffered losses of HK$124 millions in 2021. The cumulative losses for 2021’s first half totaled HK$214.4million out of 496 cases.

A group of cryptocurrency consultants vanished with the money and digital assets of a man aged 30 in a case involving HK$124 millions. Statistics for 2020 can use to describe the increase in crime for Crypto traders such as those in Hong Kong who are kidnapped and other crimes. There were 208 total cases, resulting a loss of HK$114.4 millions.

These are the things that make people hate crypto. Because it directly relates to a very insidious crime.

Notes: All information on this website is published in good faith, and is intended for informational purposes only.


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