According to Cointelegraph, a Canadian volunteer moderator of a cryptocurrency forum has reportedly gone into hiding with his family following an alleged kidnapping attempt. The incident involved kidnappers who purportedly tried to abduct him to forcefully obtain his Bitcoin holdings. The victim, whose identity remains undisclosed, recounted to Canadian French language news outlet La Presse that he witnessed the assailants preparing for a violent attack before he and his children managed to escape.
The victim described the attackers as having equipment intended for torture, including a tarpaulin with a hole and hoses designed to sever a limb and stop the bleeding. This incident is part of a growing trend of robberies, kidnappings, and muggings linked to cryptocurrencies over the past year. The victim and his children have been moving between Airbnb locations to conceal their whereabouts, with police concluding that the motive was to steal funds from his crypto wallet. The perpetrators allegedly believed he possessed 2.5 million Bitcoin based on his posts on a Facebook page he moderated, although he claims to have only $10,000.
The victim initially reported the threat to police on November 4 after two masked men threatened him outside his home, but they fled when he managed to close the door. On November 8, he noticed a suspicious car without a license plate near his home and was followed while driving. During a call to the police, he had a gun pointed at him after pulling over. Four individuals were arrested, with two appearing in the Victoriaville courthouse last November, accused of conspiring to kidnap and possessing prohibited firearms. They were released pending a trial scheduled for March but remain under house arrest.
The victim expressed dissatisfaction with the Court of Quebec's decision to release the suspects on bail, as he has been forced to deplete his savings to evade his alleged kidnappers. Bitcoin cypherpunk Jameson Lopp has documented at least 181 incidents involving crypto-related robberies, kidnappings, and murders since December 2014, including several recent cases during the holiday season. These incidents highlight the risks associated with flaunting wealth on social media and engaging in peer-to-peer trades with untrusted individuals. Lopp advises maintaining a low profile to reduce the likelihood of being targeted by criminals.
