Bitcoin Trader Abducted, Tortured, Robbed in South Africa

Gun Hold Up Crime Arrest MugA South African Bitcoin trader is recovering in intensive care following his abduction and torture by bandits who allegedly robbed him of almost $66 000 USD in Bitcoin and cash.

According to Soweto Urban, the man agreed to do a talk on cryptocurrency for a person he met online and then in person at the Cresta Shopping Centre in Johannesburg.

The alleged victim went to a residence at 1pm on November 16th to give the talk, and there encountered 2 women and 4 men.

Someone in the house came up from behind and covered the trader’s mouth with an “drug-infused” cloth, causing him to pass out.

The victim says he came to in another residence, where he was tortured and threatened in the presence of 2 women and 3 men.

The attackers allegedly burned the victim with a hot iron applied to his hands, legs, buttocks and torso in order to extort his password and “FNB” account information.

All told, the attackers allegedly robbed the victim of R 800 000 in bitcoins (~$57 928 USD); R 100 000 in cash from a regular bank account (~$7421 USD); R 3000 in cash (~$217); 2 laptops and 2 iPhones.

At least one other kidnapping-for-bitcoin may have occurred in South Africa to date.

In July of this year, a 65-year-old South African philanthropist and co-founder of a grocery chain in South Africa, Liyaqat Parker, was kidnapped from a parking garage and held for two months before being returned safely to his family when a rumoured ransom of 50 Bitcoins was paid to a kidnaping ring for his release.

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