Crypto consultant kidnapped in Thailand – perpetrators demanded ransom in bitcoin

Crypto consultant kidnapped in Thailand - perpetrators demanded ransom in bitcoin

Image source: Shutterstock / Trijo News

Teodor Stig-Matz

teodor.matz@trijo.co

A businessman from Singapore was kidnapped during a business trip to Thailand. The perpetrators demanded a really large ransom in bitcoin.

Unfortunately, illegalities are not uncommon in the crypto world. The number of times Trijo News has reported on various fraud and thefts are hardly countable. Among them is the time someone stole $50 million from the crypto exchange Upbit.

This time, a crypto crime that is more serious than what we usually see, kidnapping, is alleged to have taken place, the South China Morning Post reports.

Required ransom – in bitcoin

A man from Singapore working as a consultant in the crypto industry was abducted and held for a huge ransom in bitcoin during a trip to Thailand last week.

The victim was traveling to Thailand with a man he knew. The latter then allegedly, with the help of companions, kidnapped the man and demanded a ransom to the equivalent of $740,000 in bitcoin.

Threatened with murder

The cryptocurrency consultant reportedly only had funds of $46,000 in bitcoin, after which the kidnappers allegedly threatened to kill him.

However, it all ended with the victim escaping. Thai police have subsequently managed to arrest three men suspected of being involved in the kidnapping, including the man the victim was traveling with.

It is suspected that the kidnapping was related to some form of business settlement, the South China Morning Post writes.

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