Cryptocurrency Under Violent Threats: Recent Kidnapping Cases Frequent in the Crypto World

Although Crypto Assets are safe and reliable online, they have become targets coveted by criminals in real life. In recent years, the crypto world has frequently seen incidents of kidnapping, home invasion robberies, and violent threats, with victims often being forced to hand over their private keys or make transfers. Most of these cases fall under "wrench attacks"; even if the victims have the safest cold wallets and encryption protection, they ultimately cannot withstand physical violence.

According to incomplete statistics, about 7 such cases occurred in 2022, the number doubled to 15-18 in 2023, and continued to grow to around 20 in 2024, with higher amounts involved in each case, and multiple cases having ransoms or losses exceeding one million dollars. In the first half of 2025, 34 cases have already occurred, far surpassing the same period last year, setting a new historical high.

Bali Incident: A Deadly Trap in Paradise

On May 1, 2023, a 22-year-old Chinese couple was found dead in a five-star hotel in Bali under mysterious circumstances. An official investigation concluded it was a "murder-suicide," but rumors in the crypto world suggested that the male had around 200 million RMB in Crypto Assets, leading to various speculations.

There is a version circulating in the community: this young man took some money from a certain "boss" under the guise of "cleaning up" and was exposed while exchanging for US dollars. The "boss" offered a bounty to "kill the chicken to warn the monkey," and a professional killer found the opportunity at the hotel. Since the case may involve certain forces in Southeast Asia, the local government chose to handle it discreetly.

This case has caused a sensation in the crypto world, serving as a warning: even in vacation resorts, holding a large amount of Crypto Assets can lead to deadly consequences.

Parental Debt Repayment: Kidnapping and Theft Cases

In August 2024, a thrilling kidnapping case occurred in Connecticut, USA. Sushil, a vice president at Morgan Stanley, and his wife were kidnapped by a gang of 10 while viewing a house in an upscale community. The police quickly rescued the hostages and arrested the suspects.

However, the investigation revealed that the real target was Sushil's 18-year-old son, Veer Chetal. Chetal was involved in a $250 million Bitcoin theft case, forming a "dark web gang" with several online friends to scam an early Bitcoin player.

Chetal's extravagant lifestyle attracted the attention of the kidnappers. They originally planned to kidnap Chetal's parents as hostages to force him to hand over the remaining Crypto Assets.

Ultimately, Chetal pleaded guilty and agreed to testify in exchange for a reduced sentence, potentially facing around 20 years in prison. His father also lost his job because of this matter. This case reflects the chain effects of Crypto Assets-related crimes, even affecting innocent family members.

Hal Finney's Last Ransom Call

Bitcoin early contributor Hal Finney faced heartbreaking extortion in the last months of his life. In the winter of 2014, a hacker harassed the Finney family through "Swatting" (maliciously reporting an incident), leading to a fully armed SWAT team raiding their home.

The hacker started the extortion a month ago, demanding 1000 Bitcoins (about over 400,000 USD at that time). Although Finney, as an early Bitcoin hash power provider, owned a significant amount of Bitcoins, most of it was used for expensive treatment for ALS.

The hackers continuously harassed and threatened, taking away the last peace of Hal Finney's life. His wife Fran still recalled it with heartache later. It wasn't until August 28, 2014, when Hal Finney passed away, that this nightmare finally came to an end.

The Nightmare of Ledger's Co-founder on a Snowy Night

In the early morning of January 21, 2025, David Balland, co-founder of Ledger, was kidnapped at his home in France. Ten masked assailants broke into his villa and took him and his partner to different locations.

The kidnappers demanded that Ledger pay the ransom, accepting only Crypto Assets. David was tortured and had a finger cut off to pressure the company. French police acted quickly, successfully rescuing the hostage and arresting 10 suspects within 48 hours.

This case shocked the Crypto Assets industry and highlighted the security risks faced by high-profile crypto entrepreneurs. Even the founders of cold wallet companies focused on security are not immune to real-world threats.

Dazzling Father's "E Guardian"

In May 2021, a shocking family tragedy occurred in Maryland, USA. 25-year-old Liam drugged his father’s tea and stole $400,000 worth of Bitcoin while he was unconscious.

Liam was once his father's "financial advisor," and the two made profits by investing in Crypto Assets together. However, Liam's drug addiction worsened, and he became obsessed with the price trends of Bitcoin. After his father refused to sell the Bitcoin, he planned this crime.

The father was discovered by a friend after being in a coma for two days, nearly losing his life. Liam was ultimately sentenced to 125 days in jail, mandatory drug rehabilitation, and 20 years of probation for first-degree assault. This case illustrates the negative impact that Crypto Assets can have on family relationships, and how addictive behaviors can lead to extreme actions.

These cases highlight the potential risks of holding a large amount of Crypto Assets. While the blockchain technology itself is secure and reliable, real-world threats still exist. Crypto Assets holders need to be particularly vigilant and take necessary security measures to protect themselves and their families.