Six people, including a married couple, have been charged in Malaysia with kidnapping a Chinese national. The suspects, aged between 25 and 29, allegedly abducted the victim on July 11 along a highway between Kuala Lumpur and Putrajaya. The kidnappers then demanded a USDT1 million ransom in exchange for the victim’s release.
Crypto is popular with criminals
The choice of the perpetrators to demand ransom in USDT is not accidental. Crypto assets such as USDT are attractive to criminals because of the relative anonymity they offer. Especially when compared to traditional financial transactions. These types of digital assets are also harder to trace by authorities. Crypto addresses, unlike bank accounts, are not linked to personal information.
Despite the growing popularity and adoption of crypto, digital assets remain interesting to criminals. Criminals are becoming increasingly innovative in evading authorities. Fortunately, authorities are also becoming increasingly adept at navigating the crypto waters.
On August 15, the six suspects pleaded not guilty to the charges. However, the court refused bail and set the next hearing for October 8. Judge Amir Effendy stressed the seriousness of the case and ruled that bail was not an option. Malaysian authorities have since expanded their search for four other suspects. These suspects are believed to be part of a larger gang consisting of 18 experienced kidnappers.
If found guilty under Malaysia’s Kidnapping Act, the six suspects face a minimum sentence of 30 years in prison, with a maximum of 40 years. They could also be flogged as punishment.
Illegal miners
Malaysian authorities are increasingly busy with crypto-related crime. For example, more and more electricity is being illegally cut by criminal crypto miners. Since 2018, almost $1 billion worth of electricity has been stolen by these miners. Recently, the Ministry of Energy Transition destroyed half a million dollars worth of illegal mining equipment to make a statement against illegal mining activities in the country.
Source: https://newsbit.nl/zes-maleisiers-aangeklaagd-voor-ontvoering-van-chinese-man/
