Crypto and betrayal. In the last episode of the podcast Wublockchaina Chinese businessman, identified only by the letter K, shared His terrifying Kidnapping experience In the Philippines in 2022. This poignant testimony reveals the details of a criminal operation involving Filipino ravisseurs and a Chinese criminal union, and highlights the use of cryptocurrencies in criminal transactions.
- A Chinese businessman, nicknamed K, was the victim of a kidnapping in the Philippines, orchestrated by his own bodyguard.
- The kidnappers demanded a ransom in cryptocurrencies, stressing the disturbing use of these currencies in criminal transactions.
A kidnapping orchestrated by his own bodyguard
THE hero unhappy in history, a certain K, had settled in Philippines To manage mining operations and it was therefore removed in December 2022 by a team of kidnappers apparently informed by its own bodyguard. The latter, hired without in -depth verification, would have provided criminals of the information crucial on K, thus facilitating his abduction.
After being captured, poor K was detained during six daysundergoing threats and physical violence. The kidnappers, made up of Philippins and Chinese, demanded a Initial ransom of $ 100 millionthat they finally reduced to $ 20 million after intense negotiations.
THE captors asked K if he owned USDT, the first stablecoin on the market, as it is often used for its ease of transfer. Although K has never used crypto before, the kidnappers still insisted that the ransom be paid in USDT.
Finally, his marryunder the supervision of the Philippine Policecarried out the transfer Rançon via a Manila casino, known to be a place of money laundering for the gang. This transaction allowed the release of K, although the kidnappers tried to ask for more money afterwards.
The role of crypto in criminal transactions
Unfortunately, the case of K is not isolated. According to the Philippine authorities, more than 100 cases similar kidnappings have been recorded in 2022with a majority of Chinese victims. These kidnappings are generally linked to illegal game activities and mining operations, sectors where Chinese are particularly active in the region.
There Philippine Policewith the help of the Chinese consulate, intensified its efforts to fight against these criminal networks. In the case of K, the authorities managed to arrest several members of the gangincluding the bodyguard kwho betrayed his confidence.
This testimony highlights not only the vulnerability of Chinese expatriates in the Philippines, but also the growing use of crypto in criminal activities. While the authorities continue to dismantle these networks, the international community must remain vigilant in the face of the evolution of criminal methods in the digital economy. And France is unfortunately well placed to know.