Crypto Volunteer Moderator Hides in Fear After Kidnappers Attempt to Abduct Him
A Canadian volunteer moderator of a crypto forum has reportedly gone into hiding with his family after kidnappers allegedly attempted to abduct him and force him to give up his Bitcoin. The victim, who was not identified in the Canadian French-language news outlet La Presse’s January 6 report, claimed that the would-be abductors were prepared for horrific violence before he and his children managed to escape.
The Daring Attempt
According to the report, the would-be kidnappers had a plan to torture the victim. They allegedly brought with them equipment designed to inflict severe physical pain, including a 2-foot by 2-foot tarpaulin with a hole in the middle and green hoses around it to cut off blood flow.
"It’s incredible violence," the man told La Presse, describing the terrifying scene. "They had everything they needed to cause us immense harm."
The victim and his children have been forced to move from one Airbnb location to another, constantly changing their whereabouts to avoid being tracked down by the kidnappers. The police have concluded that the motive behind the attempted abduction was to steal funds from the man’s crypto wallet.
A Target for Thieves
The man revealed in an interview with La Presse that he had been moderating a Facebook page for several years, and had posted about his involvement with cryptocurrency. He claimed that this exposure made him a target for thieves, who believed he possessed a vast fortune.
"I may have 10,000 dollars," the man said, emphasizing that he did not possess the massive amounts of Bitcoin that his would-be kidnappers thought he had. "They thought I was some kind of crypto tycoon with millions of dollars in my possession."
The attempted abduction is part of a growing trend of robberies and kidnappings involving cryptocurrencies over the past year. A rising number of victims have come forward, recounting tales of terror at the hands of thieves who sought to exploit their online presence.
A Pattern of Violence
According to Jameson Lopp, a well-known crypto expert and advocate for security awareness, there have been numerous reports of similar incidents since 2014. In fact, Lopp has tracked at least 181 reports involving crypto robberies, kidnappings, murders, or related incidents.
Some recent examples include:
- 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.
- A Pakistan-based crypto trader was reportedly kidnapped by several men in a police van and forced to transfer $340,000 while held at gunpoint on Christmas Day.
- The wife of another crypto influencer was reported kidnapped by three men, with a police chase leading to a car crash in Belgium on Dec. 24.
Lopp attributes the rise in these incidents to the increasing visibility of cryptocurrency enthusiasts online and their tendency to flaunt their wealth on social media.
A Word of Caution
To avoid becoming a target for would-be kidnappers or thieves, Lopp recommends exercising caution when engaging with others online and being mindful of one’s online presence. Some guidelines he suggests include:
- Avoiding peer-to-peer trades, particularly with individuals you don’t trust
- Not flaunting wealth on social media
- Refraining from wearing crypto-branded clothing or displaying signs of wealth
By taking these precautions, cryptocurrency enthusiasts can minimize their risk of being targeted by thieves and kidnappers.
A Complex Issue
The rise in kidnappings and robberies involving cryptocurrencies raises questions about the intersection of technology and human behavior. As more people become involved with cryptocurrency, it is essential to address the potential risks associated with this growing trend.
While technology has made it easier for individuals to engage with cryptocurrency, it also increases their vulnerability to exploitation by others. As we move forward in the age of cryptocurrency, we must be aware of these potential pitfalls and take steps to mitigate them.
A Call to Action
As a community, it is our responsibility to ensure that those involved with cryptocurrency are educated about the risks associated with it and how to avoid becoming targets for thieves. By promoting awareness and security best practices, we can create a safer environment for everyone.
Let us work together to address this complex issue and make sure that individuals who engage with cryptocurrency do so safely and securely.