2024

<p class="is-style-lead">Two Hong Kong kidnappers demanded a stablecoin ransom before getting arrested, highlighting concerns over crypto-related crimes and safety.</p>
<p>The interesting and jarring kidnapping took place in Tseung Kwan O, Hong Kong, and saw criminals demanding a cryptocurrency <a href="https://crypto.news/bitcoin-ransomware-defrauds-over-250-companies-for-42m/" rel="noopener noreferrer nofollow">ransom</a> for a three-year-old boy. The child was abducted on July 3 while shopping with his mother.&nbsp;</p>
<p>According to local media <a href="https://www.hk01.com/%E7%AA%81%E7%99%BC/1034733/%E5%B0%87%E8%BB%8D%E6%BE%B3%E4%B8%89%E6%AD%B2%E7%AB%A5%E6%98%A8%E5%8D%88%E9%81%AD%E7%B6%81%E5%8C%AA%E6%89%8B%E5%B7%BE%E6%8E%A9%E5%98%B4%E6%93%84%E8%B5%B0-o%E8%A8%98%E4%BB%8A%E6%B8%85%E6%99%A8%E6%95%91%E5%9B%9E%E8%82%89%E5%8F%83%E6%8B%98%E5%85%A9%E4%BA%BA?utm_source=01articlecopy&amp;utm_medium=referral" target="_blank" rel="noopener noreferrer nofollow">reports</a>, the criminals demanded a ransom of 660,000 USDT from the parents for the release of the boy through the messaging app Telegram.</p>
<p>The abduction, captured on CCTV, showed the toddler being taken in broad daylight, his cries muffled with a handkerchief.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">In Hong Kong, criminals demanded 660,000 USDT for the kidnapped three-year-old child.<br><br>In one of the districts of Hong Kong, unknown individuals abducted a three-year-old child at the Tseung Kwan O Plaza shopping center. <a href="https://t.co/aKrNxh3L4X" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/aKrNxh3L4X</a></p>— Владислав (@Vladislav10124) <a href="https://twitter.com/Vladislav10124/status/1808825527299342789?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 4, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The Hong Kong Police Organized Crime and Triad Bureau (OCTB) immediately launched a thorough investigation. By July 4, the police had rescued the child and arrested two suspects.&nbsp;</p>
<h2 class="wp-block-heading" id="crypto-kidnappings">Crypto kidnappings&nbsp;</h2>
<p>This incident in Hong Kong is <a href="https://crypto.news/crypto-industry-lost-572-7-million-to-hacks-and-scams-in-q2/" target="_blank" rel="noopener noreferrer nofollow">part of a growing pattern</a>, raising concerns among law enforcement agencies worldwide about the need for enhanced strategies and technologies to combat crypto-related crimes.</p>
<p>As crypto has gained in popularity, there has been a <a href="https://crypto.news/ledger-address-poisoning-scam/" target="_blank" rel="noopener noreferrer nofollow">noticeable increase</a> in the number of ransom demands involving digital currencies, reflecting a broader trend in which criminals exploit the complexities of crypto to evade detection.&nbsp;</p>
<p>This incident highlights the growing trend of criminals utilizing digital currencies for ransoms due to their untraceable nature, adding a difficult layer to traditional law enforcement efforts.&nbsp;</p>
<p>While Hong Kong is known for its low crime rates, especially concerning children’s safety, this case has <a href="https://www.dimsumdaily.hk/tseung-kwan-o-plaza-kidnapping-sparks-widespread-fear-among-hong-kong-parents/" target="_blank" rel="noopener noreferrer nofollow">deeply shaken the community</a> and sparked media coverage.</p>

Kidnappers arrested after demanding a $660,000 USDT ransom

Table of Contents

crypto.news

Other articles published on Jul 4, 2024

Wemade to Unveil New Business Strategy on WEMIX DAY, Shaping the Future of Blockchain Gaming

Bitcoin Plummets Below $60,000 Amid Market-Wide Sell-Off and Mounting Pressure from Mt. Gox Repay...

Dogecoin’s make-or-break moment: Can DOGE cross the crucial $0.1184 support?

Opera’s MiniPay partners with Mento Labs to offer USDT, USDC, and cUSD swaps

Bitcoin Whales Offload Millions – How Long Will BTC Price Crash Last?

Crypto Heavyweights Invest in BlockDAG, Injective, and Maker for Upcoming Bull Run; Is Layer 1 Bu...

Join our free newsletter for daily crypto updates!