Kidnappers allegedly targeted a Canadian cryptocurrency forum administrator and father of four, forcing him and his family into hiding. The nameless victim alleges the attackers wanted to torture him in order to gain access to his cryptocurrency holdings, mistaking him for a wealthy Bitcoin owner.
The dad described seeing the assailants about to launch a brutal attack, leading him to run with his children. “They had tools designed to cause harm,” he added, describing the equipment as capable of chopping limbs and halting bleeding.
The victim has since moved to a variety of Airbnb apartments, using his savings to avoid his suspected kidnappers. According to him, the assailants claimed he held 2.5 million Bitcoin due to his role as a moderator for a Facebook crypto community. However, he explained that his shares were only $10,000.
The experience began on November 4, when two masked men threatened him outside his house. The men fled once the victim secured his door. Days later, on November 8, the victim observed a suspicious car with no license plates near his home. While driving, he saw he was being followed and phoned the cops, but the situation quickly escalated when one of the pursuers pointed a gun at him.
In connection with the event, four people were arrested, including two adults who were charged with kidnapping conspiracy and unlawful firearm possession. The court released the accused on house arrest, pending a trial in March, despite their arrest. The victim voiced dissatisfaction with the court’s ruling, claiming that he had drained his resources to defend his family while dreading additional attacks.
This episode is part of an increasing trend of crimes against bitcoin holders, such as robberies, kidnappings, and extortion. Experts in the cryptocurrency field advise avoiding flaunting money online or engaging in high-risk peer-to-peer transactions with untrustworthy persons.
The instance exemplifies the darker side of cryptocurrency ownership, where anonymity and high-value assets may make individuals simple targets for thieves. As crypto crimes continue to proliferate, anyone participating in the field must maintain a low profile and prioritize personal security.
