Hong Kong Police Rescue Boy from Crypto Ransom Kidnapping

Police in Hong Kong arrested two women from mainland China last week for abducting a three-year-old boy. The incident occurred in Tseung Kwan O, where the boy was taken from a shopping mall on July 3. 

The kidnappers demanded a ransom of US$660,000 in USDT (Tether), equivalent to HK$5.15 million. On Thursday morning, police rescued the boy from a housing estate in Tseung Kwan O.  

Details of the Abduction

The abduction happened at TKO Plaza shopping mall the previous afternoon. Local media shared images online showing ransom messages sent to the victim’s family, demanding the hefty sum in cryptocurrency.

Chief Superintendent Kwan King-pan of the Organised Crime and Triad Bureau reported that the suspects, both 38-year-old women, forcibly took the boy away, placing him in a stroller. They then transferred him into a large suitcase at a nearby park before taking him to a residential unit. 

The unemployed suspects were arrested during a break-in to rescue the boy. One of the women held a Hong Kong ID card, while the other was visiting on a travel permit.

Kwan indicated that financial difficulties might have driven the suspects to commit the crime. The pair had planned the abduction, as evidenced by their preparation of the stroller and suitcase. However, the investigation has not yet established a link between the suspects and the victim.

Rising Trend of Crypto-Related Kidnappings

This incident is the latest in a series of crypto-related attacks and kidnappings in Hong Kong and other regions. For example, the Philippines recently saw a series of kidnappings where the ransom was demanded in cryptocurrency. 

On June 20, two Chinese nationals, Xia Kefu and Sun Jing, were kidnapped in the Philippines. Their families were asked to raise 15 million yuan (approximately $2 million) in USDT. Despite a ransom payment, the victims were found dead near Manila on June 27.