Crypto Kidnappings: If you invest in cryptocurrency, you need to be careful. The abduction incidents of rich people investing in crypto currencies are growing rapidly worldwide. One such case has come to light from New York. In these cases, an attempt is made to torture the victim’s digital wallets. In recent months, many such cases have come to light in countries such as the United States, France, Belgium and Canada, in which kidnappers have targeted crypto businessmen.
What is ‘Crypto Kidnapping’?
In crypto kidnapping, criminals kidnap rich crypto investors and force them to access their digital wallets. Unlike traditional bank robberies, victims are tortured to disclose passwords of their crypto accounts. According to al-Jazira’s report, a crypto investor named Michael Valentine Carturon was recently tortured by kidnappers in New York for 17 days.
He was hanged from the ceiling, was given a lightning bolt and was scared to get the access to his Bitcoin wallet with $ 28 million. However, the carturan managed to escape and the criminals were arrested.
Growing case in France and Europe
In France too, there have been several kidnapping attempts against people involved in the crypto industry. On May 31, 26 people were prosecuted in Paris after an attempt to kidnap the daughter and grandson of CEO of the CEO of Crypto Company Pemium. Similarly, David Beland and his wife, co-founder of the Ledger Company, were abducted in January.
The criminals cut off one of Beland’s finger and made a video and sent it to the company. However, the police rescued him two days later. In Belgium too, the wife of crypto investor Stefan Vinkel was abducted, which was rescued by police after chasing the car.
Why are such cases increasing?
- Simple robbery: It’s easier to hack crypto wallets than banks or access forcibly.
- Transactions cannot be reversed: blockchain transactions cannot be reversed, so that the stolen money cannot be easily detected.
- Role of Social Media: Many investors showcase their wealth, making it easier for criminals to target them.
- Data Leak: Data leak from the exchange platform helps criminals select the right goal.
Now the crypto kidnapping insurance also
In the midst of these incidents, insurance companies are now offering ‘Kidnap and Ransom’ (K&R) policy. According to the NBC report, at least three companies are coming up with special insurance plans for crypto investors.
Security measures
Security experts suggest that crypto investors should not display their wealth on social media. Avoid posting pictures of geotaged photos and luxury items. A new wallet address should be used for each transaction.
As the price of cryptocurrency is increasing, it is becoming an attractive goal for criminals. In this case, investors need to be careful and aware.
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