Crypto Robbery Epidemic: Canadian Volunteer Moderator Goes into Hiding after Kidnappers Attempt Abduction
A recent surge in cryptocurrency-related robberies, kidnappings, and muggings has left the crypto community reeling. The latest incident involves a Canadian volunteer moderator who has gone into hiding with his family after alleged kidnappers attempted to abduct him and force him to give up his Bitcoin.
The Victim’s Harrowing Experience
According to an interview with French-language news outlet La Presse, the victim described the would-be abductors as prepared for horrific violence. The man, who wishes to remain anonymous, claimed that the kidnappers were equipped with torture gear, including a 2-foot by 2-foot tarpaulin with a hole in the middle and green hoses around it to cut off limbs and stop bleeding.
"It’s incredible violence," the victim told La Presse, recounting his harrowing experience. "They had equipment to torture me… They were prepared for some serious stuff."
A Rising Trend in Crypto-Related Crime
This latest incident is just one of many cases reported in recent months. According to Jameson Lopp, a well-known crypto cypherpunk, there have been at least 181 reports of cryptocurrency-related robberies, kidnappings, murders, or related incidents since December 2014.
"It’s a trend that’s getting worse," Lopp stated in an interview with La Presse. "We’re seeing more and more cases where people are being targeted for their cryptocurrencies."
The Victim’s Financial Situation
In this case, the victim’s alleged kidnappers may have been motivated by a desire to steal funds from his crypto wallet. According to the victim, he has only $10,000 worth of Bitcoin, far less than the 2.5 million that his would-be abductors reportedly thought he had.
"I’m just an ordinary guy," the victim explained. "I may have 10,000 dollars in my wallet, but I’ve never flaunted it on social media or worn crypto-branded clothing… The guys who did this were clearly misinformed."
The Aftermath
After initially contacting the police on November 4, the victim and his family have been forced to move from one Airbnb to another to evade their alleged kidnappers. Four people were arrested in connection with the incident, but two of them were released pending trial and remain under house arrest.
The victim expressed frustration with the Court of Quebec’s decision to release the suspects on bail, stating that he has had to "burn through my savings" to continue evading the suspects.
"It’s a nightmare," the victim said. "I’m not safe anymore… I have to keep moving from place to place just to stay alive."
A Growing Concern in the Crypto Community
The recent surge in cryptocurrency-related crime has left the crypto community on edge. Many are calling for greater awareness and caution when dealing with cryptocurrencies, particularly in light of the following incidents:
- On New Year’s Day, French police rescued a man found tied up in the trunk of a car in Le Mans after his captors made a ransom demand to his son, a crypto influencer living in Dubai.
- On Christmas Day, a Pakistan-based crypto trader was kidnapped by several men in a police van and forced to transfer $340,000 while held at gunpoint.
- On December 24, the wife of another crypto influencer was kidnapped by three men, with a police chase leading to a car crash in Belgium.
Preventing Crypto-Related Crime
Experts like Jameson Lopp are recommending that individuals take extra precautions when dealing with cryptocurrencies. Some tips include:
- Avoiding peer-to-peer trades, particularly with people you don’t trust
- Refraining from flaunting wealth on social media
- Not wearing crypto-branded clothing
"The general premise is that if criminals are less aware of you, they are less likely to target you," Lopp explained.
By being mindful of these tips and staying informed about the latest developments in cryptocurrency-related crime, individuals can take steps to protect themselves and their assets.
