Kidnappings And Extortions: The Worrying Backlash Of The Bitcoin Surge
The year 2024 was marked by a spectacular rise in the value of cryptocurrencies, with bitcoin reaching a historic peak of $108,135. However, this explosive growth has also led to a worrying increase in kidnappings and extortion targeting crypto traders and investors.
Bitcoin: Investors Targeted by Criminals
In France, a particularly alarming incident occurred on January 1, 2025. Police rescued a 56-year-old man found tied up in the trunk of a car in Le Mans. The kidnappers demanded a ransom from his son, a crypto influencer based in Dubai.
In Pakistan, another case was reported on December 25, 2024, where Mohammed Arsalan, a local crypto trader, was kidnapped in Karachi. The kidnappers, including an officer from the Counter Terrorism Department, forced Arsalan to transfer $340,000 via his account Binance before liberating him near the mausoleum of Quaid-i-Azam Mohammed Ali Jinnah.
In Australia, a member of the Saudi royal family was lured into a trap via a dating app. Catherine Colivas, a 24-year-old woman, lured the victim to her home, where three men, including her boyfriend, tied him up and threatened to cut off his fingers if he didn’t transfer $40,000 in bitcoin.
Canada has not been spared either. Dean Skurka, CEO of WonderFi, a Canadian crypto exchange, was kidnapped in downtown Toronto during rush hour on November 6, 2024. He was released after an electronic payment of a $1 million ransom.
What will happen in 2025?
In 2025, incidents of kidnappings and extortions related to cryptocurrencies could multiply, especially with optimistic forecasts for the BTC. Investors must therefore be extra cautious and take enhanced security measures to protect themselves and their assets.
These incidents highlight the growing risks faced by crypto traders and investors as the sector expands. The surge in bitcoin prices attracts criminals looking to profit from this newfound wealth. Authorities around the world now face a significant challenge in protecting individuals involved in this rapidly growing sector.
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Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.