A Russian couple that runs a crypto business was kidnapped and held for ransom in Argentina, forced to send crypto to the attackers.
A young Russian couple involved in crypto was kidnapped by Chechens and forced to pay $43,000 in crypto as ransom, Argentine media reported on Thursday, May 28. The couple, who were running a crypto business, was kidnapped on Friday in the Palermo district of Buenos Aires.
According to investigators, the couple was invited to a dinner by two Chechens. Around 11 PM local time, the 30-year-old woman was calling for help from the balcony. After that, employees at a nearby restaurant called the police, who soon arrived at the scene.
At the scene, the police found the woman and her 27-year-old partner, who was tied up. The couple recounted that the Checkens made them send $43,000 in crypto to an associate’s wallet address before fleeing the scene. The police confirmed that the suspects fled the country to the United Arab Emirates.
Crypto crime becomes a security concern for holders
Attempts at violence and extortion are becoming a serious risk for high-profile crypto holders. Attackers appear to specifically seek out potential crypto holders to force them to hand over their seed phrases or make transfers of their crypto.
On May 27, French police arrested 12 suspects, including minors, who were involved in crypto-related kidnappings. Authorities claim that the group was involved in two high-profile kidnapping attempts against family members of crypto entrepreneurs.
Another case involved a U.S. tourist who was drugged and robbed by an Uber driver in London. The attacker stole $123,000 in crypto assets from the victim. Although the FBI got involved, there is little hope that the funds will be recovered.
The permissionless nature of crypto transfers means that victims cannot cancel the transactions once they are effected. This means that attackers can get the funds, and provided they can launder them, spend them with impunity.
