Hong Kong police rescue cryptocurrency trader kidnapped by triad gang who demanded HK$30 million ransom - Hong Kong law enforcement officers have nabbed 7 individuals who were involved in the kidnapping of a cryptocurrency trader.

    According to local media reports, officers arrested 7 people and were hunting for about 8 others, believed to be members of a Sun Yee On triad faction, including the suspected division boss.

    The kidnapping took place on Nov. 6. After attempting to exchange his Tether (USDT) holdings into Hong Kong dollars, a 39-year-old man was viciously attacked by at an industrial building where he was supposed to meet with potential buyers. The kidnappers beat the victim with metal chairs and hammers, forcing him to give them access to his crypto holdings. The trader was then blindfolded and transported to a remote village where he had to endure more physical abuse.

    The victim’s family filed a police report on Nov. 9, and the authorities successfully managed to pinpoint the location where he was held. The kidnappers were demanding a HK $30 million ransom (about US $3,85 million). 

    The man was lucky enough to escape from the hut where he was being held hostage through a loft, while two watchmen were temporarily not being vigilant.

    Superintendent Alan Chung of Kowloon West regional crime unit. Photo: Handout

    After being rescued by the police, the man is currently in the hospital undergoing treatment for serious bodily injuries.

    Last month, two men were arrested in the Kaliningrad region, Russia, after kidnapping a 28-year-old crypto investor, forcing him to transfer his crypto, injecting the victim with drugs and throwing the near-dead body into the woods. The man was able to regain consciousness and then filed a police report in the nearest town.

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