Hong Kong Police arrests seven in relation to crypto-trader kidnapping


- The Hong Kong police have arrested 7 people in relation to a week-long kidnapping of a crypto trader
- It was reported that kidnappers had demanded a ransom of HK $30 million to release the trader
- Arrested once could face imprisonment for lifetime
As cryptocurrencies gain exposure to the world, the crimes related to the same have also gone up substantially. In a recent event, a crypto trader had been kidnapped in Hong Kong while the kidnappers had demanded a hefty ransom of 30 million in local currency, however, in such a cinema-like situation, the trader successfully outsmarted the kidnappers & escaped their entrapments.
Kowloon Bay, a resident of Hong Kong, aged 39 years went out to sell digital currency to a stranger. The buyer had brawled the trader into an industrial building where a group of men began hitting him with hammers & metal chains in an attempt to kidnap him.
The kidnappers also forced Kowloon to surrender his wallet, mobile phones & made him reveal his bank & crypto wallet passwords. The next morning, he was blindfolded & put into a container terminal being transported in a car where he was known to be taken to Nam Hang Tsuen, a village in Tai po.
While attacking Kowloon, the gang members wanted him to lie about him being in debt to his family & friends, so that it would be easy for them to get their ransom. After tipping toes, the family of the victim launched a police complaint, after 3 days of Kowloon being kidnapped. The police department identified a potential location of the suspect & ambushed the village.
However the next day, in a movie-like scenario, Kowloon managed to escape by breaking through a window in the attic while two kidnappers took their smoke breaks. Further police rescued him & raided the hut while locking up the two gang members.
Deputy senior superintendent, Alan Chung issued a statement in a press conference seeding information that 5 more arrests were made in the surroundings of crime, while all of them aged between 25-32 & are considered to be a part of the triad group Sun Yee On.
At the time of writing, Kowloon has faced multiple injuries on his arms & legs, where he is also undergoing surgery for the same. Meanwhile, Chung has urged the citizens to avoid face-to-face dealing & opt for trustworthy online exchanges.

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform.

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