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">
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   <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>
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<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

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