South African Crypto Trader Kidnapped and Tortured for $60,000 in Bitcoin

There has been no end to the crimes and frauds related to cryptocurrency. Recently a gang of criminals in South Africa adopted a different approach in conducting their crypto crime. A crypto trader who is a resident of Lanseria, South Africa was kidnapped, beaten, drugged and robbed of 800,000 rand which is almost worth $60,000 of Bitcoin. The victim was also robbed of cash and various other gadgets. The victim was targeted because of his interest in crypto assets.

 The victim, Andrew met a man on Facebook who sent him an invite to give a presentation on Bitcoin in Ntuli Street in Meadowlands Zone Five. The victim had a meeting with the person he met on Facebook at Cresta Centre in Johannesburg and came to an agreement to work with him in future.

On the 16th of November around 1 p.m, the victim entered the premises in Meadowlands Zone Five where he was invited. Reportedly the residence already had two women and four men who were supposed to be the audience for the presentation. The victim was approached from behind and he had his mouth and nose tied up.

The victim was later drugged and he passed out. The victim opened his eyes to find that he was brought to a new location. The criminals stripped and tortured the victim. The victim ended up giving his Bitcoin password along with his First National Bank account details to the criminals. According to police reports, “The victim was burnt with a hot iron and threatened with murder if he did not disclose the information.”

Due to the threats and the torture the victim transferred 800,000 rand worth of Bitcoins to an account which the gang forced him to. The victim was also made to transfer 100,000 rand which is equal to $7,000 USD from his bank account to the account of the criminals. The victim was further forced to give up 3,000 rand which is equivalent to $200 USD in cash, two iPhones and two laptops. After the theft the criminals blindfolded the victim and dropped him off at another location.

The police have been investigating the case. The victim, has been at the intensive care at the Alberton Union Hospital due to the burnt wounds on his body. This has not been the first case of Bitcoin robbery, if we talk about the world outside South Africa, in May this year, three criminals had kidnapped a child for a crypto ransom.

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