China Jails Kidnappers That Demanded ‘Hundreds of Bitcoins’ as Ransom Payment

Chinese authorities person jailed 4 individuals that were accused of kidnapping 1 idiosyncratic and demanding “hundreds of bitcoins” arsenic a ransom payment. While the alleged kidnapping is reported to person occurred successful the Philippines, the practice betwixt the 2 countries yet led to the apprehension and eventual sentencing of the Chinese kidnappers.

A Ransom Demand

Four Chinese citizens accused of kidnapping and demanding bitcoin arsenic ransom outgo person been jailed, China’s Embassy successful the Philippines has said. Two of the accused — namely, Liu and Zhang — were handed situation presumption of 8 and 12 years, respectively. The remaining two, Cong and Jia, were sentenced to beingness successful prison.

According to a statement released by the Embassy, the 4 are believed to person kidnapped an idiosyncratic identified arsenic “Su” successful the Philippines successful August 2019. For Su’s harmless return, the kidnappers demanded “hundreds of bitcoins” which are equivalent to implicit $3.1 cardinal oregon much than 20 cardinal yuan.

The kidnapping prompted the Embassy and home instrumentality enforcement to motorboat a manhunt for Su’s captors. According to the statement, the 4 accused were yet caught and brought to justness successful 2019.

Meanwhile, successful the aforesaid statement, the Embassy reiterated the Chinese government’s zero tolerance for each amerciable and transgression activities that see online gambling, telecoms fraud and kidnappings. Also, successful a informing directed to Chinese citizens surviving successful the Philippines, the Embassy suggested the Chinese government’s practice with its counterpart volition guarantee each Chinese lawbreakers successful the Philippines volition beryllium brought to justice.

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