Kidnappers Demand USDT Stablecoin

Two kidnappers in Hong Kong demanded a stablecoin ransom before being arrested, raising concerns about crypto-related crimes. The incident occurred in Tseung Kwan O, where a three-year-old boy was abducted on July 3 while shopping with his mother. The kidnappers demanded 660,000 USDT for the boy's release via Telegram. CCTV captured the abduction in broad daylight. The Hong Kong Police Organized Crime and Triad Bureau (OCTB) launched an investigation, rescuing the child and arresting two suspects by July 4.

This case is part of a growing trend where criminals use digital currencies for ransom due to their untraceable nature, complicating traditional law enforcement efforts. Despite Hong Kong's low crime rates, particularly involving children's safety, this case has shaken the community and drawn significant media attention.

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