Crypto trader kidnapped and tortured, while interrogated for wallet password

04 Dec, 2018 | Updated: 04 Dec, 2018
by Fifi Arisandi
News
Crypto trader kidnapped and tortured, while interrogated for wallet password

Another physical crime related to cryptocurrency is being reported in South Africa that befell a cryptocurrency trader.  

A cryptocurrency trader based in Lanseria, South Africa is reported to have been kidnapped, drugged and tortured, in efforts to get the passwords of his crypto wallets.

The man, who is called by the nickname Andrew was in contact with someone, whom he just acquainted with through Facebook. The new contact showed an interest in cryptocurrency, which was followed by an invitation to “his residence” to present about cryptocurrency.

Soon after Andrew entered the residence, someone sneaked up behind him and made him unconscious by putting a drug-soaked cloth on his face.

When he was awake, he found himself naked and surrounded by 3 men and 2 women, who then beat and tortured him, while questioning him about his crypto wallet credentials.

The trader said that he tried hard not to give the requested information, however, he finally gave up and told them the password to his accounts when they threatened to kill him using a hot iron rod.

According to Coinounce, the kidnappers were said to have successfully transferred $58,500 in Bitcoin to their Bitcoin address and $7,300 to their bank account, while also taking the victim’s iPhones and the $220 cash he brought with him.

The police found Andrew on the road and rushed him to the hospital, where he’s being treated for wounds and burns all over his body. The local authority is now on the hunt of the kidnappers, based on the information from the victim.

Similar incident was reported just days ago in Ukraine, where a Bitcoin miner was kidnapped in an effort to get information about his cryptocurrency saving and the key to the apartment.

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