South African Bitcoin Investor Experiences Unfortunate Torture Tactics To Give Up Crypto Holdings
From large scale crypto scams, kidnapping for bitcoin as ransom and now torture, a lot of press coming out of South Africa about crypto ecosystem has been negative.
On November 16th, a Bitcoin trader from Lanseria was invited to do a presentation on cryptos. He entered to give the presentation in a residence which had 4 men and 2 women. Someone behind him sneaked up with a drug-infused cloth and pressed against his face till he passed out.
When he regained consciousness, he was in a different place and was surrounded by five people. He was then disrobed, beaten and assailed. The victim testified that the group demanded his FNB account details as well as his Bitcoin password, burning him with a hot iron and frightening to kill him.
As a result of the torture, he yielded and gave R 800 000 (nearly $60,000) worth of Bitcoin to an account the group presented him with, consigning a second amount of R 100 000($7400) from his bank account into one he was provided with. Adding to the crypto losses, he was robbed of R3000 in cash, two laptops, and two iPhones.
He was then blindfolded and dropped at Kliprivier Road. He had sustained burn wounds on hands, leg, buttocks, and torso. He is currently recovering in an ICU of Alberton Union Hospital.
In September 2018, a well known South African entrepreneur was kidnapped for a ransom of 50 BTC. Liyaqat Parker was returned to his residence after two months of captivity. The founder of the Food prop Group, also known for other business interests, had been kidnapped at gunpoint by a gang of five men at his company’s basement parking lot in July.
Criminal instances involving cryptos has been on the rise in South Africa. The country’s police note that there were 14 similar cases since 2015.